Resonance Impact Investment authorised by FSA18-02-2013
Resonance Impact Investment Limited (RIIL) was authorised by the Financial Services Authority (FSA) on 15th February 2013.
RIIL is a subsidiary of Resonance Limited, a leading social finance intermediary with over 10 years track record. The authorisation allows Resonance, through RIIL, to undertake a range of regulated financial activities including
- full arrangement and negotiation of deals for social enterprises, including capital placements
- establishment, operation and fund management of social impact investment funds
RIIL will shortly become fund manager of the Real Lettings Property Fund, which Resonance has developed with London homelessness charity Broadway in order to provide much needed "move-on" accommodation for London’s homeless into the private rented sector.
RIIL’s authorisation will enhance and accelerate Resonance’s ability to both create new impact investment funds and attract further investors to its existing funds.
Resonance will continue to provide investment readiness advice to social enterprises through Resonance Limited.
Commenting on the news, Managing Director of Resonance, Daniel Brewer, said
“This is an important step forward for Resonance in its overall mission to bring capital to transformational social enterprises. It is also a strong endorsement of the professional team we have built to provide these regulated services. Through Resonance Impact Investment we will be able to provide a wider range of capital raising support to social enterprises, and have greater flexibility in the development and management of new impact investment funds to channel capital to social enterprise.”