Hurricane relief fund launches with USD 10m goal.
M2 EQUITYBITES-October 13, 2017-Hurricane relief fund launches with USD 10m goal
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Private Equity for Puerto Rico ("PE for PR"), formed by a group of private equity firms, including Clearlake Capital Group, Valor Equity Partners, StepStone Group, Palladium Equity Partners, LLC and MoonSail Capital, LLC, has announced an effort to raise significant funds from the private equity and financial communities to aid victims of Hurricane Maria in Puerto Rico, the group said.
Private Equity for Puerto Rico seeks to raise USD 10 million for the hurricane-ravaged island by encouraging the diverse private equity network, including banks and advisors, to donate via its Classy page, at https://give.classy.org/peforpr. All funds raised will be donated to the Foundation for Puerto Rico, a vetted non-profit organization on the ground in Puerto Rico that is focusing all of its efforts and resources on relief, recovery and rebuilding efforts on the island.
The Fund has already raised USD 800,000, anchored by a commitment of up to USD 500,000 from Clearlake Capital Group and the Kwanza Jones and Jose E. Feliciano Supercharged Initiative ("KJSI"). Under the commitment, KJSI and Clearlake together will match all donations up to USD 500,000. Valor Equity Partners is also anchoring the Fund with a USD 200,000 commitment, and StepStone has committed USD 100,000. Funds will be given to the Foundation for Puerto Rico on a rolling basis as donations are received.
Clearlake is a private investment firm founded in 2006.
The Supercharged Initiative, founded by Kwanza Jones and Jose E. Feliciano, is a philanthropic organization focused on grant-making and strategic impact investing as well as policy and advocacy work.
Valor Equity Partners is an operationally active private equity firm focused on making expansion, growth and buyout investments.
StepStone is a, global private markets firm that oversees over USD 120 billion of private capital allocations, including more than USD 32 billion of assets under management
Palladium is a middle market private equity firm with over USD 2.0 billion in assets under management.
MoonSail Capital, LLC is a Los Angeles and San Juan based private equity firm that invests in well-positioned, privately held companies in the US and Puerto Rico.
Foundation for Puerto Rico (FPR) is a 501(c)(3) local non-profit organization incorporated in 2011 with over 15 employees.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Oct 13, 2017|
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