A consortium of organisations has been selected by the Treasury to run the Futurebuilders fund.
The £125m fund, designed to prepare charities for an enhanced public service role, will be administered primarily by Charity Bank, NCVO and Unity Trust Bank.
Other organisations involved in the fund are the Community Fund, the Northern Rock Foundation and the Impetus Trust.
Paul Boateng, Chief Secretary to the Treasury, said: "In selecting this consortium, we are ensuring that the voluntary sector will continue to be in the driving seat in running the fund."
Futurebuilders aims to improve voluntary sector service delivery in health and social care, crime, community cohesion, education and services to children and young people. It will provide £100m for capital investment and £25m for resource funding.
The consortium has begun detailed negotiations with the Home Office to finalise the contract to run the fund.