Clifford Chance and PEF

Martin Kolmar talks about Clifford Chance's involvement with PEF:

Our involvement with PEF began when KKR and Permira - two of PEF's founder members and both long-standing clients of Clifford Chance - approached us in 2006, requesting pro bono advice on a transaction of a very different nature – setting up a charitable foundation! 

Apart from incorporating and registering PEF as a charity, we have attended all of PEF's board meetings, hosted PEF's first AGM, been involved in the SWOT teams assisting Skill Force and School Home Support and provided legal advice on day-to-day and strategic matters.  We have used our network of contacts within the firm to widen pro bono support for PEF, such as involving strategy consultants, obtaining accounting advice on charity matters and arranging for D&O insurance cover at extremely favourable rates through Heath Lambert (for a premium of just £1 in the first year).  We have also participated in a wealth of other PEF activities, including demonstrating our prowess (or otherwise!) on the football pitch in PEF's annual football tournament and fielding runners for PEF's Berlin marathon team last September.  Persuaded by the good work PEF does, I personally took part in the marathon – never having run before in my life.  Although it was one of the more physically challenging things I have done, I made it round the course in the 26 degree heat, wearing my bright yellow PEF branded t-shirt with pride, enjoying every minute! 

Working with PEF has been a fascinating and rewarding journey and an opportunity for the firm and individual lawyers to give something back to the community, alongside the Clifford Chance Foundation's similar projects.  We have witnessed with excitement the growth of the fantastic management team led by Shaks, the selection of NEETs as PEF's focus and numerous successful rounds of fundraising and portfolio charity selection. We have advised PEF during the Private Equity boom in 2006/07, through the financial turmoil in 2008 and onwards into the tentative steps towards the recovery of the economy, adapting to the new challenges all the way.  During the board meeting on the day after the collapse of Lehman Brothers, it became clear we were moving into an era when our work with PEF in tackling the issues facing NEETs would be more important than ever. We thoroughly look forward to working with PEF for many years to come!