26 January 2007

PEF launched

A charity supporting troubled school children and one building children's literacy skills were among those that benefited from the first grants given today by the Private Equity Foundation (PEF).

The foundation was set up last year by leading private equity firms in London, to raise money for charity from within the private equity community. The Chairman of the Private Equity Foundation's board of Directors, Ramez Sousou, described it saying 'PEF is an opportunity for the industry as a whole to invest some of [its] success.' Over 70 private equity firms and advisors including banks, law firms and consultants have already raised over £5 million.

PEF split the £5 million donation between five charities working with families, children and education, where the foundation believed its investment could create significant value. Members of the private equity sector will also use their financial and management expertise to support the selected charities.

NPC worked alongside PEF to identify the charities that would receive support. Three of the charities chosen are also on NPC's list of recommended charities:

• Community Links provides opportunities to disadvantaged people to improve their lives, for example through education and finding work.
• The Place2Be supports troubled, unhappy children in schools through their drop-in service, where children can discuss their worries and problems.
• Volunteer Reading Help works with children who are struggling with reading and writing to develop their literacy and communication skills.
• NSPCC works with children, young people and their families to end child abuse, through providing support services and influencing policy; and
• Impetus Trust gives long-term financial and management support for charities looking to achieve a step change.

To read more about the NPC-recommended charities, click here.

< back to news index