Roughsleepers SIB
SIB Details
| Location | United Kingdom, London |
| Commencement date | 1st November 2012 |
| Savings area | Homelessness |
| Bond Amount | £5m |
| Bond terms (years) | 4 years |
Intervention Program
| Program description | Long term “trusted support” to focus on addressing underlying issues, and ensure existing services are appropriately accessed. |
| Treatment duration | 3 years |
| Target population | Persistent rough sleepers (>6 recorded instances of rough sleeping over 2 years). |
| Intervention cohort | 830 Target Population members |
Outcome Measurement
| Metric | Number seen sleeping rough in each quarter; sustained moves to settled accommodation outside the hostel system; reconnection of foreign nationals to accommodation in their home country; employment; accident and emergency (A&E) visits. |
| Counterfactual | Baseline rough sleeping and A&E visits based on virtual historical cohorts who would have met the same criteria in the past, and whose outcomes have been tracked. Accommodation, Reconnection and Employment outcomes do not have a baseline, as these would have been very low and difficult to measure. |
| Outcome Calculation and Target | Reduction in rough sleeping and A&E usage relative to baseline; small payments for moves into settled accommodation outside the hostel system or abroad, with larger payments made for sustainment of accommodation for 12 mths/18 mths; small payments for sustained volunteering or achievement of a qualification, larger payments for employment of 13/26 wks. |
Contracting parties
| Government Agency | Department for Communities and Local Government, Greater London Authority. |
| Service Provider | St Mungo’s Thames Reach |
| Intermediary | Social Finance UK |
| Evaluator | Unknown |
Investor details
| Investors | St Mungos, Thames Reach, CAF Venturesome, Department of Health Social Enterprise Investment Bond, Orp Foundation, Big Issue Invest and a number of individuals. |
| Returns | Up to 6.5% pa return if targets are met. |
| Capital protection | Nil |
Case study
| Comments | This SIB leverages the unique indepth historical data collected by the Greater London Authority on the individual rough sleepers in the community. |
Download the Roughsleepers SIB case study (PDF, 191KB)
