First Round is delighted to report that the UK private equity industry will come together in September to do two of the things it does best: raise a lot of money while attempting to grind its rivals into the dust. Happily on this occasion we’re not talking about a late-night auction process in a windowless data room. This time it’s all for a good cause – specifically, a new triathlon event in aid of industry charity Impetus – The Private Equity Foundation.
Organised by Human Race and backed by the Financial Times, with support from the British Private Equity & Venture Capital Association, the event will take place at Eton Dorney (the venue for the Olympic rowing in 2012) on Saturday 13 September this year. The idea is that a load of industry types come along for a day of networking and fundraising, with all the proceeds going to support Impetus-PEF’s admirable mission of trying to help children and young people trapped in poverty.
Of course, this being a private equity event, there needs to be some element of cut-throat competition too. The main event is a sprint triathlon sponsored by Mergermarket, which will consist of a 750m swim, 21.2km bike ride and 5km run. There’s also a Marlborough Partners Advanced Triathlon, for those ultra-competitive types (and First Round imagines there’ll be a few of them) who fancy their chances of clocking a sub-1hr15 time.
But don’t worry: if this sounds too much like hard work, you could always join Team PEI in opting for the PwC relay (where you compete as a three, each doing one discipline – much more collegial), or the Ropes & Gray SuperSprint, a shortened version. Or you could do what First Round intends to do: hand over some cash and then lie in the sun enjoying the free barbecue. Digging deep in one’s pockets counts as exercise, right?