Private Equity for Puerto Rico raises $1 mln

Private Equity for Puerto Rico, an effort by a group of private equity firms to aid victims of Hurricane Maria on the Caribbean island, has raised $1 million. The target is $10 million. Launched on October 11, PE for PR will donate all funds to Foundation for Puerto Rico, a non-profit organization involved in providing relief, recovery and rebuilding efforts on Puerto Rico. PE for PR includes Clearlake Capital Group, Valor Equity Partners, StepStone Group, Palladium Equity Partners LLC and MoonSail Capital LLC. PE for PR is seeking donations via its Classy page at https://give.classy.org/peforpr.

PRESS RELEASE

SANTA MONICA, CA – October 20, 2017 – 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 announced that the fund has reached its first major milestone of $1 million in donations since its launch on October 11. All donated funds are immediately provided 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.

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, who has been on the ground in Puerto Rico since the hurricane hit working to assist in the recovery efforts, said, “Make no mistake, the situation in Puerto Rico is dire. What we see day and night here is a humanitarian crisis that most of us can’t imagine. Every day with no clean water the risk of disease and a deepened crisis grows. With no electricity, life-saving prescriptions cannot be preserved and people remain isolated and worried. But we can help untangle this web of devastation.

“The Foundation for Puerto Rico is working in at least 70 percent of the island. They have the local expertise and presence, and, with more than 500 volunteers, the people to help end the suffering. Starting with basic needs, they are bringing people up to livable conditions. Once basic needs are met, the Foundation turns to helping the broader communities, places like elderly care homes and small businesses, to create a path to full functionality. The Foundation is also sharing intelligence and helping other aid teams mobilize. This is how we will operate until our beautiful Puerto Rico is restored and better than ever,” Ortiz concluded.

José E. Feliciano, Co-Founder and Managing Partner of Clearlake Capital Group, said, “The best way to help right now is through donations, and the Foundation for Puerto Rico is making a real impact today, delivering goods and services efficiently, without red tape and unnecessary delays. We thank all of the donors to date from the bottoms of our hearts. While we understand there are many worthy causes, we ask anyone who is able to donate to join us in addressing the ongoing humanitarian crisis in Puerto Rico.” 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.