Social Impact Investment Trust (SIIT)
Social Ventures Australia has partnered with HESTA to establish one of Australia’s largest impact investing funds. After committing an initial $30 million which has been deployed towards investments that generate both a measurable social impact and a market-based financial return, HESTA has reaffirmed its commitment to growing the Australian impact investment market by allocating a further $40 million to SVA.
SVA is the investment manager of the $70 million Social Impact Investment Trust (SIIT), a fund with the purpose of allowing HESTA to make direct and indirect social impact investments utilising the skill, experience and assistance of SVA. The SIIT was launched in 2015 with an initial commitment of $30 million, making it at the time one of Australia’s largest dedicated impact investment funds.
Investments will continue to be made across a range of social enterprises, businesses and projects which have a specific focus on delivering both sound financial returns and a demonstrable social impact in sectors such as health, housing and community services. The fund makes loans and equity investments and also invests in Social Impact Bonds.
The Fund is not intended to replace government funding for social services, does not provide grant funding and is not a venture capital or angel fund.
Contact the teamInvestment characteristics and criteria
SVA and HESTA are seeking to make investments in organisations and enterprises established in Australia and may include the following:
- senior and/or subordinated debt
- equity capital (including ordinary shares, convertible and/or redeemable preference shares, convertible notes and/or warrants); and
- Social Impact Bonds
The target minimum investment size is $1 million, with the actual amount of individual investments to be determined on a case-by-case basis by SVA.
To be considered for investment the organisation or enterprise should have the following characteristics:
- be an established entity with proven revenue and a trading record
- have established governance and management structures
- be mission driven and work towards a demonstrable and direct social impact; and
- seek positive social change in a range of sectors including, but not limited to, education, employment, social and affordable housing, family and community connections, disability, health care, aged care, child care, social services and indigenous areas.
Current portfolio
Glenview
Investment theme: Aged care. Details: $19m senior debt financing for the Korongee village. Impact: First of its kind dementia care model in Australia
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AAHS & Horizon Housing
Investment theme: Housing. Details: $6.5m blended capital investment in Horizon Housing Solutions and Australian Affordable Housing Securities. Impact: Growing Australia’s social and affordable housing stock
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Nightingale Village
Investment theme: Housing. Details: $20m subordinated debt. Impact: Construction of 8.5 star environmental property featuring 6 apartment buildings for affordable housing
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Life Without Barriers
Investment theme: Housing. Details: $1m senior loan. Impact: Construction of new disability housing in Queensland
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Aspire Social Impact Bond
Investment theme: Housing. Details: $1.5m. Impact: Funding for a ‘housing first’ intervention model, designed to focus on strengthening community engagement and employment participation to people experiencing homelessness in Adelaide
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Newpin Qld Social Benefit Bond
Investment theme: Family & community connections. Details: $1.5m. Impact: Strengthening family engagement to reunite children safely with their families
Read moreSustainable Development Goals
Application process
SVA and HESTA are currently seeking investment opportunities that meet the investment characteristics. To apply for investment or loan capital from the fund, please contact SVA on impact-trust@socialventures.com.au. SVA will endeavour to respond to your enquiry within two business days.
If you do not meet the investment criteria, please visit the SVA Diversified Impact Fund webpage which has a different investment criteria and might be more applicable.
Performance
The Social Impact Investment Trust was established on 6 August 2015. As the Fund Manager, SVA will report annually on the performance of the Fund.
The SVA Social Impact Fund is a similar fund, which can be referred to for indicative track record.
Talk to us
Rebecca Thomas
Executive Director, Impact InvestingRebecca is a Director in the Impact Investing team and leads the investment of SVA’s Social Impact I
Contact Rebecca