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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.”

Resonance was advised by city consultancy Compliancy Services for the management of RIIL’s FSA application and on-going FSA Compliance issues. Ben Mason, Managing Partner said “Resonance is at the forefront of the emerging social investment market. Gaining FSA authorisation will enable them to offer a valuable investment service to charities and social enterprises. We are delighted to work with Resonance and wish them all the best in this exciting new development for their business.”

Notes to editors: Resonance was founded in 2002 and since then has helped many social impact organisations position themselves to secure the funding they need to grow. Resonance has particular experience in property-related projects, community share issues and social investment funds. The Resonance group includes Community Land & Finance CIC, its own community lending vehicle, which operates two debt funds for asset-based community projects. Resonance now has bases in London, Manchester and Cornwall and, in addition to its core team of finance specialists, has a network of associates who are specialist project managers, accountants, consultants and surveyors.

For more information on this article contact: Simon Chisholm, Investment Director, Resonance

This press release was distributed by ResponseSource Press Release Wire on behalf of Compliancy Services in the following categories: Business & Finance, Public Sector, Third Sector & Legal, for more information visit https://pressreleasewire.responsesource.com/about.