One of London’s oldest hedge fund firms is planning to raise about $414 million for an impact property fund.
Financial Times reported that the new fund from Cheyne Capital, which will launch in the third quarter of this year with the targeted initial goal of $138 million to $207 million, will invest in projects that aim to make a positive social impact. The article added that the offering is “intended to address an opportunity created by a reduction in government capital grants at a time of increased need for social housing and related community schemes.”
Cheyne is also considering hiring London-based charitable organization New Philanthropy Capital to evaluate each investment’s social impact.
Cheyne manages about $7 billion in assets.