UK venture philanthropist Impetus Trust has strengthened its investment team with the appointment of Alan Morton as an investment manager. Morton’s most recent role was director of private equity for Prudential Asset Management Singapore & Prudential Vietnam where he assisted managing US$200m of private equity investments.
Impetus Trust, the pioneer of venture philanthropy in the UK, has strengthened its investment team with the appointment of Alan Morton as an investment manager.
Morton brings to Impetus a wealth of experience from the private equity sector. His most recent role was Director of Private Equity for Prudential Asset Management Singapore & Prudential Vietnam where he assisted managing US$200m of private equity investments. Prior to this he worked for Silverfleet Capital Partners, the London-based European mid-market private equity firm.
Impetus Trust works to break the cycle of poverty by investing in ambitious charities and social enterprises that fight economic disadvantage through helping people to gain education, skills and jobs. It uses a highly effective venture philanthropy model, consisting of management support from the Impetus investment team, pro bono specialist expertise and strategic funding to accelerate the growth of those organisations.
At Impetus, Morton will be working on the reducing reoffending portfolio and will provide management support to Blue Sky Development & Regeneration, Prison Radio Association and Shannon Trust. He will also support the advocacy work for the Impetus for Reducing Reoffending Initiative. The objective of the Initiative is to support organisations making a significant impact in reducing reoffending rates. According to the Ministry of Justice, as of June 2011 the estimated annual costs of reoffending are between £7bn and £10bn per year, underscoring the vital work of charities delivering frontline interventions to help ex-offenders leaving prison.
“I am delighted to have such an experienced private equity professional as Alan join Impetus,” said Daniela Barone Soares, Chief Executive, Impetus Trust. “We know that providing ex-offenders with further education, training or a job has the highest impact in terms of reducing reoffending rates. Alan’s experience and track record is crucial to the work we do to scale up charities and social enterprises that reduce reoffending and turn more lives around.”
Regarding his appointment, Alan Morton said, “I am very pleased about joining such an ambitious team at Impetus and working to help more charities and social enterprises across the UK increase their impact. There has never been a more important time to help more and more ex-offenders break the cycle of reoffending that will keep them bound to economic disadvantage.”
Morton has previous experience of the Impetus portfolio having worked as a pro bono expert advising Resurgo Trust and Family Links. For Family Links he helped coordinate a bid for a Department for Education early years pilot project and for Resurgo Trust he coordinated a bid for a Department of Work and Pensions Innovation Fund contract targeting disadvantaged youth. Prior to Silverfleet Capital Partners, Morton qualified as a Chartered Accountant with Arthur Andersen.
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Notes to the editors
Impetus Trust (www.impetus.org.uk) works to break the cycle of poverty by investing in ambitious charities and social enterprises that fight economic disadvantage. It uses a highly effective venture philanthropy model to accelerate the growth of carefully selected organisations so they can help more economically disadvantaged people to gain education, skills and jobs. Last year, Impetus-supported charities helped more than 300,000 people.
For every £1 Impetus invests, it is able to leverage nearly £4 more of value for its portfolio organisations, through the deployment of high-calibre pro bono expertise, partnership investment and additional funds raised.
In April 2011, Impetus Trust and education charity The Sutton Trust were chosen to manage the £125 million Education Endowment Foundation (EEF) to boost attainment of some of the country’s most disadvantaged children. EEF provides support for projects initiated by schools, teachers, local authorities and charities that are seeking to improve the performance of disadvantaged pupils in England’s lowest performing schools.
The Impetus for Reducing Reoffending Initiative launched in July 2009 with the support of Esmée Fairbairn Foundation, The Indigo Trust, The Henry Smith Charity, J Paul Getty Jnr Charitable Trust and others. More information.
Impetus has received has received a £310,000 grant from the Social Action Fund, which is managed by The Social Investment Business on behalf of the Cabinet Office. The Social Action Fund is part of a broader programme of support for social action that was announced in the Giving White Paper last year. The funding Impetus has won will be used to recruit, match and deploy hundreds of skilled professionals into charities that need their help. For more information, please click here.