Bridges Fund Management is a private markets fund manager specialising in sustainable and impact investment. They strive to make investments that contribute to the transition to a more inclusive and sustainable economy, predominantly in the UK to date.
Founded in 2002, Bridges offer four investment products to institutional investors in the PBII pillars of SME finance (through private equity, debt and business support) and regeneration (through both residential and commercial real estate). All investment strategies focus on the social and environmental themes of ‘Stronger Communities’, ‘Sustainable Planet’, ‘Healthier Lives’ and ‘Future Skills’. These themes are closely aligned with the SDGs.
|VEHICLE||STRATEGY||CAPITAL RAISED||INVESTMENTS TO DATE|
|Bridges Sustainable Growth Funds||Provision of £5m-£20m equity and business support for organically growing companies having a positive impact on people or the planet.||£321 million||54 businesses|
|Bridges Evergreen Holdings||Provision of £10m+ long term capital (equity or debt)|
for social and other mission-driven businesses.
|£51 million||4 investments|
|Bridges Social Outcomes Funds||Provision of working capital and management and contract structuring support for providers of Government commissioned social outcome contracts – those where providers are paid for the successful outcomes they achieve, not the services they deliver.||£58 million (committed to projects)||Over 40 projects|
|Bridges Property Funds||Investment in real estate that helps to reduce carbon emissions, revitalise business and residential spaces, regenerate communities and address unmet needs.||£656 million||63 properties|
All four funding strategies have raised investment from LGPS funds.
CONNEQT (BRIDGES PROPERTY FUNDS)
- With a JV partner and support from local agencies, Bridges led the remediation of a former colliery site in Cannock that had been identified as in need of regeneration by Cannock Chase Council.
- Called Conneqt, the site was developed into highly environmentally sustainable Grade A industrial space (BREEAM 2018 “Very Good” rated and EPC A rated).
- The site was presold to generate a very strong financial return, and the regenerated site is providing c.400 jobs within the local community.
THE ETHICAL HOUSING COMPANY (BRIDGES EVERGREEN HOLDINGS)
- The Ethical Housing Company provides long-term, stable accommodation for those in housing need, with a current focus in Teesside, by acquiring properties and renting them to people in housing need (48% of lettings in FY2021 related to housing homeless households).
- Its partner letting agency ensures tenants can afford their bills and supports them in sustaining their tenancy.
- Bridges’ vision is a best practice model for affordable private rented accommodation that can be replicated wherever there is housing need.
WHOLEBAKE (BRIDGES SUSTAINABLE GROWTH FUNDS)
- Wholebake manufactures and sells gluten-free energy bars, from its factory and distribution facilities in North Wales (lowest 11-20% and 21-25% income and employment deprived local authorities in the UK).
- Their snack bars use natural ingredients and are aimed at the healthier segment of the snack market.
- Wholebake employs a workforce of about 200, about 90% of whom drawn from underserved areas and over half being formerly unemployed.
GREATER MANCHESTER HOMES PARTNERSHIP (BRIDGES SOCIAL OUTCOMES FUNDS)
- Greater Manchester Homes Partnership is designed to tackle homelessness in Greater Manchester by providing entrenched rough sleepers the intensive emotional and practical support to sustain their tenancies.
- It is a partnership between Department for Communities and Local Government, Greater Manchester Combined Authority, Shelter, Great Places Housing Group and The Brick. Bridges provides project finance and project management support.
- Through the project, 323 rough sleepers have moved into accommodation, with 91% having sustained the accommodation for more than 3 months.