The £100mn Women in Safe Homes fund has been created as a solution to the lack of affordable, safe and secure homes for women who are experiencing homelessness, have been involved with the criminal justice system, are survivors of domestic abuse or have other complex needs.
Women in Safe Homes was created collaboratively by leading property investor Patron Capital and social impact investment company Resonance. It launches with an initial investment of £15.5mn but, has a target funds size of £100mn and aims to provide 650 affordable homes across the UK. The first home will be purchased in January 2021.
The fund will work by purchasing properties and leasing them to women’s sector organisations and homelessness charities which, in turn, will rent homes to women at risk of homelessness, with a secure tenancy.
It has been developed over more than two years in collaboration with leading women’s sector organisations and networks, including Women’s Aid, in order to ensure that it responds to the lived experiences of women and the social enterprises that support them. It takes a gender-lens approach to all aspects of its operation to ensure that its impact is led by the voices, experience and requirements of women.
Pinsent Masons advised Resonance throughout the process, ensuring an effective legal framework was implemented to support the future growth of the fund and enabling it to meet its objectives. Ian Warner, funds partner at Pinsent Masons, led the team of advisors which included finance and projects associate Leila McDougal, tax consultant Richard Croker and property partner Natalie Harris.
Simon Chisholm, Resonance's Chief Investment Officer commented:
“It has been a pleasure to work the team at Pinsent Masons again, their support, professionalism and expert advice has enabled us to launch the Women in Safe Homes fund, which will change the lives of so many women in the UK, helping them to move on with their lives in a safe, affordable and settled home.”
Ian Warner, lead partner at Pinsent Masons said:
"It has been a great honour to work with Resonance and Patron Capital in developing such an important and impactful fund. This was the fourth fund we have helped Resonance with and we really appreciate the chance to continue to work with them and the team at Patron on something that has the ability to change lives and deliver a substantial positive social impact."