Fifteen anchor donors joined Private Equity for Puerto Rico, formed by a group of private equity firms, in bringing relief to the island ravaged by Hurricane Maria. Donors include the National Association of Investment Companies, New American Alliance and firms like ICV Partners, Reservoir Capital Group, Reverence Capital Partners and Landmark Partners. PE for PR is targeting $10 million to aid victims of Hurricane Maria in Puerto Rico, and has raised $1.2 million so far. PE for PR calls on its diverse network, including legal and accounting firms, banks and advisers, and friends and family, to donate via its Classy page, at https://give.classy.org/peforpr.
Private Equity for Puerto Rico (“PE for PR” or “the Fund”), formed by a group of leading private equity firms, including Clearlake Capital Group, Valor Equity Partners, StepStone Group, Palladium Equity Partners, LLC and MoonSail Capital, LLC, along with the Kwanza Jones and José E. Feliciano Supercharged Initiative, today welcomed more than 15 new anchor donors to the effort bringing relief to the U.S. territory where American citizens continue to suffer in crisis conditions more than one month after the devastating Hurricane Maria.
Foundations and associations joining PE for PR as significant donors include:
- The Palermo-Ravich Foundation
- Alvarez Charitable Foundation
- National Association of Investment Companies (NAIC)
- New America Alliance (NAA)
- Association of Asian American Investment Managers (AAAIM)
Private equity firms, executives, and companies joining PE for PR as significant donors include:
- ICV Partners
- Reservoir Capital Group
- Reverence Capital Partners / Milton Berlinski
- Mercury Capital Advisors
- Post Capital Partners / EC Waste
- Landmark Partners
- Brightwood Capital Advisors, LLC
- Telsey Advisory Group
- Advent-Morro Equity Partners / Cyril Meduña
PE for PR seeks to raise $10 million to aid victims of Hurricane Maria in Puerto Rico. PE for PR calls on its diverse network, including legal and accounting firms, banks and advisors, and friends and family, to donate via its Classy page, at https://give.classy.org/peforpr.
Rafael Ortiz, Chief Executive Officer of PE for PR and Managing Director at MoonSail Capital, said, “Our deepest thanks go out to these leading firms and associations for their generous contributions. I’ve been here in Puerto Rico since the hurricane hit, and every penny that we are raising is making a difference. Media reports continue to cite the dire conditions and the help that sometimes only seems to come from private citizens and groups. Through PE for PR, working hand in hand with the locally savvy Foundation for Puerto Rico, we can be an important part of the mission to ease the suffering and build a stronger Puerto Rico. ”
The PE for PR fund has raised more than $1.2 million since its launch a little more than two weeks ago. All donated funds are immediately provided to the Foundation for Puerto Rico, a vetted non-profit organization in Puerto Rico that is focusing all of its efforts and resources on relief, recovery, and rebuilding efforts on the island.
José E. Feliciano, Co-Founder and Managing Partner of Clearlake Capital Group, said, “We thank the new anchor sponsors of PE for PR for their generous donations and their compassion and we welcome them under this giant tent of hope and assistance that we are building together. We continue to call on the professional community, including financial and legal firms, advisors and service providers, as well as friends and family, to join us in bringing relief and hope to Puerto Rico during this time of crisis that must lead to recovery and thoughtful rebuilding.” Clearlake, together with the Kwanza Jones and José E. Feliciano Supercharged Initiative, are anchor sponsors for PE for PR.
About Private Equity for Puerto Rico
Private Equity for Puerto Rico was formed by a group of leading private equity firms, including Clearlake Capital Group, Valor Equity Partners, StepStone Group, Palladium Equity Partners, LLC and MoonSail Capital, LLC to raise significant funds to aid victims of Hurricane Maria in Puerto Rico. Donated funds are given to the Foundation for Puerto Rico, a fully 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. Visit https://give.classy.org/peforpr and donate today.
About Foundation for Puerto Rico
Foundation for Puerto Rico (FPR) is a 501(c)(3) local non-profit organization incorporated in 2011 with over 15 employees. FPR’s mission is to transform Puerto Rico into a premier destination for the world by developing and implementing sustainable strategies that drive the visitor economy in the island. Due to the devastating impact hurricane María had in Puerto Rico, FPR has shifted its work to focus on relief efforts that will boost the recovery of the island and help those in need. For the time being, FPR’s work will focus on rebuilding the island.