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Impetus-PEF and PE donors raise £1.1 million to support disadvantaged young people

Gala dinner raises 10 percent more than last year's event

The Impetus-PEF Transforming Lives Dinner that took place on 4 June has raised £1.1 million ($1.7 million; €1.5 million) to help fund its partner charities, the foundation said in a statement. Participants contributed 10 percent more funds than last year.

Impetus-PEF’s more than twenty charity partners are focused on improving the educational and employment prospects of disadvantaged young people in the UK and include The Access Project, Second Chance and Teens & Toddlers.

Beneficiaries of these charities’ initiatives spoke at the event at The Victoria & Albert Museum in London, which was attended by more than 400 professionals from the PE industry and related services, UK members of parliament, government officials and celebrities.

The dinner was followed by the launch of Impetus-PEF’s ‘Future Leaders’ programme through which private equity professionals can get involved in social causes and philanthropy.

Private Equity International reported on the event in its June issue.

The news comes as Impetus-PEF's CEO, Daniela Barone Soares, announced that she would be stepping down from the organisaton at the end of June, after nine years at the helm.

In a statement, she said: ” In these nine years, the team has grown from four to 45; annual income grown from less than £1 million to more than £10 million; charity partnerships have grown from five to 55 – and we have delivered almost £70 million in value to them.

“Most importantly, we have helped, through our partner charities, nearly a million disadvantaged people.”