The Rockefeller Foundation

The Success of the Peterborough Social Impact Bond

Yesterday, the first results for the Peterborough social impact bond (SIB) were released and the outcomes are promising. Through a program related investment (PRI), The Rockefeller Foundation supported the Peterborough SIB pilot aimed at reducing prisoner recidivism—and now, four years later, we can point to tangible success for this new innovative finance mechanism. The first ever SIB project reduced reoffending by 8.4 percent when compared to a control group. While a reduction of 10 percent was needed to trigger immediate repayment to investors, the performance of this first group indicates that investors are on track to receive positive returns in 2016. If the reduction in reoffending remains above 7.5 percent, the Ministry of Justice will make payments to investors.

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