Herbert Smith Freehills has advised Save the Children Australia on the launch of its new social impact investment fund, the Save the Children Australia Impact Investment Fund.
In a historic move away from traditional charitable fundraising models, Save the Children Australia is the first charity to launch an ‘impact fund’.
In taking this new and dynamic direction to philanthropic fundraising and investing, the Fund seeks to generate income and capital returns, as well as deliver a social impact by investing in enterprises that are working to improve the lives of vulnerable children and their families in Australia and overseas.
Save the Children Australia’s CEO, Paul Ronalds, said the creation of the Fund reflected the need for the sector to respond to a changed operating environment and find new sources of funds to scale up promising social innovation.
The Herbert Smith Freehills team advising Save the Children Australia was led by partner Fiona Smedley (Picture), with assistance from special counsel Ewan Macdonald and solicitor Nick Alexander. Specialist tax support was also provided by Greenwoods & Herbert Smith Freehills’ director, Toby Eggleston.
Involved fees earner: Toby Eggleston – Greenwoods & Herbert Smith Freehills; Nick Alexander – Herbert Smith Freehills; Ewan MacDonald – Herbert Smith Freehills; Fiona Smedley – Herbert Smith Freehills;
Clients: Save the Children;