King & Wood Mallesons (
KWM) has advised the Victorian government on the state’s first “Social Impact Bond” (SIB).
The state government recently launched the new program, which aims to help disadvantaged Victorians break the cycle of chronic homelessness. It will support Sacred Heart Mission’s “Journey to Social Inclusion” program, which gives struggling citizens access to permanent housing, as well as general health, wellbeing, and social participation.
The SIB is based on work KWM previously completed for the Queensland and New South Wales governments, which the global firm has assisted in similar projects.
The KWM team was led by partners Chris Dynon and John Eagleton, who were assisted by senior associate Matthew Kaminsky and solicitor Louise Yun.
“It has been wonderful to assist the government in this ground-breaking initiative, which combines significant social benefits for the community with an innovative financing structure appropriate for the government and the private sector. We hope that this SIB sets a precedent for future opportunities in this space,” said Dynon.
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