Civitas Group, the firm that runs the £900m Civitas Social Housing investment trust (CSH), has expanded its client mandates by consolidating all of its asset management capabilities into one £2bn-AUM company.
Civitas Investment Management (CIM), which specialises in government-backed physical assets such as social housing and healthcare, has been created so the group can "achieve measurable social impact at scale" while delivering "consistent long-term return profiles for investors together with value for money for the public purse".
Over the next 12 months, CIM will expand its capabilities beyond the UK and into the EU. So far, the new group has formed partnerships with a number of asset and real estate management firms including Schroders, with whom they will generate new care-based housing for 2,000 people; and an Asia-based global infrastructure investor, with whom they will embark on a social housing project.
CIM's investment decisions will be monitored and challenged by a panel of independent social impact consultants.
Andrew Dawber, group director at Civitas Investment Management, said: "We are delighted that CIM has reached an important investment milestone based on a growing number of client mandates. We are greatly encouraged by the opportunities in the near term future as we grow and build out our investment funds, deploying capital in projects in the UK, and in Europe in due course.
"We are experiencing strong and growing demand from portfolio managers who increasingly recognise the attractions of investing in the asset classes that CIM promotes."
He added: "We are especially proud of the team that we have built at CIM who each provide different perspectives towards the same goal, creating sustainable investment returns for the long term in projects that deliver genuine social good at a local level wherever that investment is made."
The firm's flagship investment trust CSH is a FTSE 250-listed company with a portfolio of 600 care-based community buildings valued at approximately £900m. Its assets are spread across 164 local authority areas, 117 specialist care providers and 15 housing partners - housing a total of 4,200 people.
Since its launch in November 2016, the trust has returned 19.8% compared to its FTSE All-Share benchmark's return of 7.1%, according to data from FE fundinfo.