There are now two social investment bonds in the US – one in New York to reduce recidivism in youth who age out of the jurisdiction of the Department of Youth Services, and one in Massachusetts to solve the problem of homelessness. The fact that Goldman Sachs has made an investment marks the foray of private investors into traditional impact scenario as previously funding came from philanthropic organizations and high net worth individuals. The Michael Bloomberg Foundation has agreed to issue a 75 per cent credit guarantee, limiting Goldman’s downside to US$2.4 million. Read more here.