PEF nets £56,000 for youth charities

On 21 April 2010, over 300 members of the private equity community pitched in at the Private Equity Foundation Annual Football Tournament to tackle the urgent issue of young people not in education, employment or training (NEET). Together, the 30 teams raised £56,000, all of which will be used to support PEF’s work, helping children and young people’s charities to turnaround more young lives.

This year’s competition saw the young people’s team, fielded by latest PEF charity, City Year London, put on a brave performance. However, although ringer Kerry Dixon, who is still ranked Chelsea’s second highest goal scorer of all time, provided the “inspiration they needed” to ‘fire up’, he went on to miss a crucial penalty against Clifford Chance which cost City Year London a place in the Plate final.

With teams evenly matched, penalties proved a theme of the evening, particularly for Apax who emerged as eventual worthy winners of the Cup. A spectacular save four seconds from time had kept Blackstone Real Estate in the competition, but it was Apax’s goal keeper who, having had plenty of practice, was first to shut down a shot when the final went to ‘sudden death’.

Peter Flynn from Apax said “It was grit and determination that did it. We believe in results not fancy flicks but it helped having a very tall goal keeper. Everyone’s had great fun for a great cause.”

Deloitte emerged victorious for the Plate beating Clifford Chance. Simon Jewkes from Deloitte commented “It was luck and a few sharp penalty shoot-outs that did it for us, aided by having a rugby playing goal keeper. Group stage disappointment to jubilation, all for a worthy cause.”

Shaks Ghosh, Chief Executive of the Private Equity Foundation, added “PEF is all about getting the whole private equity community together to beat one of the most urgent crises in our communities, the 15 per cent of 16 to 24 year olds currently not in school, training or employment and facing the bleak reality of few, if any, prospects.

“The tournament has provided a significant contribution to PEF’s work and I would like to say a very big thank you to all those who joined us, on and off the pitch, for a thrilling competition. Well done to Apax and Deloitte and commiserations to Blackstone and Clifford Chance, who got so close. But remember, there’s always next year!”

Sophie Livingstone, Chief Executive of City Year London, said “Despite getting knocked out in the semi finals, City Year London had a wonderful evening. Our diverse team of young volunteers not only made me proud on the pitch but their ‘PT’ inspired chants off it (fuelled by their unmatched spirit and determination) really helped fire up the atmosphere on the night!

“I'd like to thank all those who took part, not only on behalf of City Year but all of PEF's charities. Your support through PEF is vital to our work and we welcome opportunities like this to introduce you directly to the young people whose lives and communities you are transforming.”

PEF will be back with a World Cup themed competition in the Autumn, to register your interest please email kate@privateequityfoundation.org