ImpactAlpha, November 30 — Conscious Investment Management, a New South Wales-based impact fund manager, is seeking A$200 million ($132.4 million) for its second Social Housing Fund to deliver 40,000 new social and affordable homes in Australia over five years.
The fund plans to work closely with local housing nonprofit and government agencies, such as the Housing Australia Fund and National Housing Accord, to combine public-sector funding with private capital. “As governments increasingly look to partner with private capital in this space, we hope to be an early scale mover,” said Conscious Investment’s Matthew Tominc.
Investors in the fund’s $33.2 million first close include Paul Ramsay Foundation and several other family office and foundation clients of Sydney-based impact consultant Australian Impact Investments, including Siddle Family and Snow foundations.
Conscious Investment’s inaugural Social Housing Fund raised A$97 million in 2021 and worked with the Victorian Government and Community Housing Association and others to create social and affordable housing for over 400 tenants, said Tominc.
Conscious Investment has raised $330 million since 2019 from more than 750 investors for social and affordable housing, renewable energy, carbon farming, and social impact bonds in Australia. The second Social Housing Fund is targeting a second close early next year.