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Big Issue to launch fund management arm

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The investment subsidiary of The Big Issue magazine is hunting for a chief executive as it prepares to launch a fund management arm.

 
Big Issue Invest, which started operations in 2005 to provide social investment and has so far raised GBP20m, is aiming to launch Big Issue Invest Fund Management later this year.
 
It is looking for a chief executive with fund management and direct investment experience both to get the fund management offering underway, and to lead its other investment and loan operations, including public retail funds with partners.
 
Big Issue Invest Fund Management will be FCA-authorised and will enable Big Issue Invest to launch new social investment funds that offer social and financial returns to investors, including institutional and individual investors.
 
Nigel Kershaw (pictured), group chair of The Big Issue, says: “Big Issue Invest is extending the boundaries of traditional investment, CSR and philanthropy to invest in social ventures that are creating opportunity for people and communities in the UK. We are planning to open a fund management arm as a central part of growing our business.
 
“Traditionally many people have ‘given back’ by taking up charity trustee positions or making donations. We are looking for somebody that would like to ‘give back’ by offering their time, leadership and financial experience to grow the business.”
 
Big Issue Invest currently provides investment from between GBP50,000 and GBP1m in the form of loans, participation loans and equity. Since 2005 it has invested in more than 160 social enterprises, creating jobs and improving the quality of lives of people in Britain’s poorest communities.
 
Big Issue Investment Fund Management has set a target of raising GBP250m in the next five years. It aims to attract institutions, foundations and individuals to invest in social businesses that can achieve both a good financial return for investors, alongside social impact in the UK.
 
Big Issue Invest either reinvests any dividends generated or pays them to The Big Issue. Investments are focused on what the group calls “transformational social enterprises”, such as Jamie Oliver’s Fifteen, 4Children, HCT, Highland Home Carers, Moneyline, Sandwell Community Care, Thames Reach, Turning Point, and War Child.  

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