Apex Group Ltd (“Apex Group”), a global financial services provider with over $3.5 trillion in assets serviced, is pleased to support the Resonance Housing Pathways Fund with depositary services.
The Resonance Housing Pathways Fund is the first-ever Reserved Investor Fund (RIF). Melville Rodrigues, our Head of Real Estate Advisory, has had a lead role in the design and advocacy through the UK Parliamentary process of the RIF legislation.
Resonance is one of the UK’s leading social impact investors. To date its homelessness property funds have provided homes for about 4,000 adults and children across the UK who were experiencing or at risk of homelessness. Resonance Housing Pathways Fund has secured £118m from investors, and targets to raise £700m by the end of 2030.
Apex Group’s appointment as depositary underscores our role as a trusted partner to managers considering RIF launches.
Simon Chisholm, Chief Investment Officer at Resonance, said: “The launch of the Resonance Housing Pathways Fund marks an important milestone for both social impact investing and the UK funds market. As the first Reserved Investor Fund, it was important that we partnered with an organisation that understands the regulatory framework and governance requirements of this innovative structure. Apex Group’s expertise and involvement in the development of the RIF regime made them a good fit to support the fund as depositary as we work to grow our impact across communities throughout the UK.”
Melville Rodrigues, Head of Real Estate Advisory at Apex Group, added:
“RIFs are opening the door to a new generation of UK funds that combine regulatory oversight with clear social outcomes. Our work with the Resonance Housing Pathways Fund reinforces Apex Group’s ability to support innovative fund structures and the managers driving them.”
