Allia C&C, the financial services arm of Cambridge-based charity Allia, is pleased to announce the opening of an office in Glasgow to serve its clients in Scotland and the North of England. It has appointed Peter Freer to head the office where he will be responsible for Allia C&C’s charitable bond programme with the Scottish Government and relationships with Scottish housing associations and other charities.
Over the last six years, the charitable bond programme has provided 28 loans with a total face value of more than £240 million to 19 different Scottish housing associations to fund the construction of new affordable housing. In the process, the income generated by these loans has created a £61.5 million fund for social housing grants.
Together, the loans and grants made to date through the programme will support the creation of more than 6,000 affordable homes across Scotland.
Adrian Bell, CEO of Allia C&C, said:
“Opening an office in Glasgow confirms the importance of our current Scottish clients to Allia C&C and signifies our ambitions to extend our responsible finance business to serve charities and mission driven businesses in the area.”
Peter Freer, Director Debt Capital Markets – Head of Scottish Office, said:
“I am very much looking forward to working with Allia C&C and building on the significant funding support it has provided to housing associations through its charitable bond programme. Allia C&C offers advice and a range of funding solutions, and I am keen that more housing associations and other charitable organisations in Scotland can benefit from this in the future.”