Schroder BSC Social Impact Trust to pursue IPO

Schroder BSC Social Impact Trust will pursue an initial public sale of stock with the aim of becoming the first listed investment company delivering a measurable positive "high" social impact.

"The Company's board of directors believes that the Company has the ability to work towards the democratisation of access to private market impact assets that will allow for measurable outcomes for society in the UK," the company said.

Another stated goal is to offer long-term capital growth and income through investments in private market impact funds, co-investments alongside impact investors and direct investments.

It would sell 100m ordinary shares at 100.0p each and seek a listing on the London Stock Exchange's main market.

The trust was also aiming to sell of a further 100m ordinary and/or C shares via a placing in the 12 months after the prospectus was published, a milestone that was expected to occur shortly.

Schroder Unit Trusts had been chosen as the trust's Alternative Investment Fund Manager.

Big Society Capital, one of the UK's leading social impact investors, would act as the delegated portfolio manager and be responsible for investing the company's assets.

The three main areas identified for investment included high impact housing, debt for social enterprises and social outcomes contracts.

In the UK, the social impact market had grown significantly since 2011, registering a compound annual growth rate of 25% with BSC further estimating that the investable high impact segment of the UK market would reach approximately £10bn to £15bn by 2025.