chevron icon Twitter logo Facebook logo LinkedIn logo YouTube logo download icon link icon audio icon quote icon posted icon clock icon author icon arrow icon arrow icon plus icon Search icon location icon location icon document icon menu icon plus-alt

This directory sets out the organisations that have general experience evaluating social impact bonds. We offer general information about the organisation and what they do, as well as some of the experience they have had with SIB projects.

Nothing stated here represents any endorsement or recommendation of the organisations listed. The information provided is each evaluators own description of their organisation and work. It is up to you to critically scrutinise the information provided.  

RAND Europe

RAND Europewere established in 1948 and work in 50 countries across the world.They are a not for profit research institute that helps to improve policy and decision making through research and analysis.Through their work they seek to expand perspectives through thought-provoking, impartial and robust analysis of key policy issues. They are a non-partisan organisation and are independent from any political or commercial pressures. They are a diverse organisation and cover a range of policy areas, including health, children and families, education, infrastructure and the environment. 

Previous experience with SIBs: 

RAND Europe was commissioned by the UK Ministry of Justice to evaluate the world’s first social impact bondin Peterborough. This sought to reduce reoffending by prisoners who have served short custodial sentences. They also did an investigation of social impact bonds for health and social care. This was to support the Department of Health to determine the value-added and feasibility of social impact bonds. They worked in partnership with the Policy Innovation Research Unity at the London School of Hygiene and Tropical Medicine. 



ICF is a global consulting services company with more than 5,500 employees. They help clients solve complex challenges through combining ‘traditional consulting expertise with cutting edge digital agency services.’ They work across a range of industries including disaster recovery, energy, government, health and social programmes. They offer many consulting services and this includes research and evaluation.They can help with practical assistance in research, data collection and all types of programme evaluation, often in complex environments. 

Previous experience with SIBs:  

ICF are conducting a fund level evaluation for the LCF projects. This is the first (of three) strands of LCF evaluations that seeks to evaluate the Fund for growing the SIB market, the process involved and lessons learned from fund administration. 

In 2013, the Department for Communities and Local Government commissioned ICF to do a qualitative process evaluation of the London Homelessness SIB.



Ecorys is an international company providing research, consultancy and management services. They were established in 1929 and specialise in economic, social and spatial development. Their research programme explores many policy issues, including industrial competitiveness, community justice, childhood obesity, quality of life indicators, and micro-health insurance in developing countries. 

Previous experience with SIBs:  

Ecorys have been involved in a nine-year evaluationof the National Lottery Commissioning Better Outcomes Fund (CBO). This work is in partnership with ATQ consulting. They have conducted deep dive reports which looks at the SIB from design through to completion. They did a deep dive report of the UKs first health social impact bond – Ways to Wellness.They also did in depth reviews of West London Zone Collective Impact Bond as well as the HCT Travel Training.


Traverse (formerly OPM) help organisations who are dealing with complex and controversial issues to understand what the communities and people affected think about their projects and proposals. They evaluate and implement decisions in order to improve plans and build capacity and support organisations to deliver impact. Their evaluation team offer mixed methods evaluations for clients in the public, voluntary and private sectors. They are known for impact evaluations in health and social care, local government and more. 

Previous experience with SIBs:  

Traverse have been involved in SIB development, implementation and evaluation since the early 2010s and have supported numerous SIB projects with the Commissioning Better Outcomes Fund and current Life Chances Fund. Dr Chih Hoong Sin, Director at Traverse has a blog piece that highlights key evaluation work they have carried out. 

In 2013 Traverse (under former name, OPM) were commissioned to deliver a three year independent evaluation of the Essex multi-systemic therapy social impact bond. The evaluation using funding from Central Government. 


PIRU, London School of Hygiene and Tropical Medicine 

The Policy Innovation and Evaluation Research Unit (PIRU) began in 2011. They bring together leading health and social care expertise and seek to improve evidence based policy making and its implementation across the NHS, social care and public health. They aim to strengthen policy development at national level by subjecting innovations and other initiatives to speedy, thorough, early stage evaluation. They wish to strengthen evaluation through developing evaluation methods and undertaking evaluative studies initiated in early national policy development. 

Previous experience with SIBs:  

PIRU led the evaluation of the social impact bond trailblazers in health and social care. This followed the work that began in 2013 by the Department of Health to develop SIBs in nine sites. This involved a range qualitative and quantitative analysis and a look at the SIB model, outcomes measurement and management style. This blog outlines how PIRU use research and evaluations in SIBs.  


KITE at Newcastle University

KITE is the Centre for Knowledge, Innovation, Technology and Enterprise and was established in 2006. It is based at Newcastle University Business School. Their members contribute to academic, business, government and third sector bodies. They have academic expertise in innovation, entrepreneurship, information systems and collaboration/partnership. They are interested in developing thinking and practice in community and public service contexts. 

Previous experience with SIBs:  

In 2015-16 the Cabinet Office commissioned an evaluation of the Ways to Wellness social impact bond. KITE were involved in looking at the programme deliveryfrom the perspective of the stakeholders including the Cabinet Office, management consultants, social investors, other providers and Newcastle Gateshead Clinical Commissioning Group.  



NatCen are Britain’s largest independent social research agency. They have over 50 years’ experience with government and charities, supporting them to make decisions that lead to greater impact. They are a non-profit organisation and not compromised by commercial or political agendas. They employ policy sector specialists, survey methodologists, data analysts and experts quantitative and qualitative researchers. 

Previous experience with SIBs:  

NatCen have been involved in the evaluation of the Innovation Fund pilot: quantitative assessment of impact and social return on investment. Sergio Salis, Research Director at NatCen Social Research was a main author on this evaluation.