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Former Chief Executive of Crisis Shaks Ghosh has been appointed Chief Executive at the Private Equity Foundation (PEF), the charitable vehicle for the European private equity industry. The Foundation was launched in January with a £5.1 million fund to support charities serving children, community support and education in the UK and Europe. It will also use the expertise of its members to provide free legal, accounting and financial management support to selected charities.
The Foundation has attracted controversy about the business practices of the private equity firms who set it up. "I'm not doing this to be an apologist for the private equity world," Ghosh told Third Sector. "I wouldn't work here if I hadn't been convinced that these guys are in it for the best possible reasons. They want to create social change."
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