Impetus – The Private Equity Foundation (Impetus-PEF) will launch a new campaign in March focused on the nature and causes of poor outcomes for disadvantaged 16-19 year olds in the UK.
At its annual reception dinner attended by representatives from BC Partners, Blackstone, CVC Capital Partners, Palamon Capital Partners and TPG Capital, Impetus-PEF chairman Johannes Huth said the campaign will address the barriers young people face progressing in education and employment.
The charity, which works to transform the lives of disadvantaged young people, will “shine a light on the most effective solutions to give these young people the chances they deserve,” said Huth, who is also head of Europea, Middle East and Africa at KRR.
“In 2016 Impetus-PEF will be entering the third year of its ambitious and pioneering strategy. Although only February, Impetus-PEF has already made two considerable funding announcements which sets the stage for an exciting year ahead,” Huth said.
In January Impetus-PEF announced it was providing £100,000 ($139,000; €127,000) to the Dallagio Foundation, as well as strategic and operational support to help develop its rugby-inspired education programme. The foundation was established by Lawrence Dallaglio, a former England rugby team captain.
In February, the charity announced it was providing a three-year package of strategic management advice, £1.1 million, and pro bono support to east London-based charity City Gateway, which supports young people with learning, acquiring skills and finding and keeping a job.
Impetus-PEF currently funds and works with more than 20 charities supporting more than 50,000 young people to improve their educational and employment opportunities.
In August, Impetus-PEF announced it was providing £8 million in leveraged financing to three UK-based educational charities Action Tutoring, Resurgo and The Access Project, as reported by Private Equity International.
The charity’s corporate supporters include private equity firms – among them Apax Partners, Apollo Global Management, Cinven, CVC Capital Partners, HgCapital, KKR, Permira, Silver Lake, Terra Firma, TPG and Warburg Pincus – placement agents, investment banks, and law firms, according to its website.
At the dinner hosted by Deloitte, Huth welcomed Andrew Ratcliffe as Impetus-PEF’s new chief executive officer. Ratcliffe joins the charity from the Africa Governance Initiative where he was deputy CEO and replaces Julia Grant, as reported by PEI.