Law firm advises on social impact bond on mental health and employment

Law firm Simmons & Simmons advised Social Finance UK, on a pro bono basis, on the world’s first social impact bond on mental health and employment as part of their Health and Employment Partnerships programme.

Simmons & Simmons’s role included setting up the legal structure, supporting the investment of capital from Big Issue Invest, and developing a network of contracts with local councils and Clinical Commissioning Groups in three areas of London and the West Midlands.

Health and Employment Partnerships was set up to help bridge the gap between health and employment provision. The aim is to tackle the gulf in employment rates between people with health conditions or disabilities and those without, the law firm said.

The project supported by Simmons & Simmons is focused on scaling an evidence-based service called Individual Placement and Support (IPS), which supports people with severe mental health illness into paid employment.

The Simmons & Simmons team was led by consultant, Richard Armitage assisted by corporate associate, Daniel Whitewood and projects associate, Rosanna Piper-Gill.

Simmons & Simmons senior partner Colin Passmore said: “I never cease to be really impressed by the huge efforts so many of my colleagues go to in order to promote our pro bono objectives. This is but one example of the incredible and socially relevant projects we get involved in and for which our lawyers freely give their time. Well done Richard, Dan and Rosanna.”

Social Impact Bonds are designed to bring in external, socially-motivated investment to pay for services that deliver better outcomes for individuals and reduced costs for government. In each case, government agencies agree to repay the investment with a small return when and if pre-agreed outcomes are achieved.