Posted on 25th September 2008
The Private Equity Foundation (PEF) has made its first investment in a German charity.
PEF has invested €180,000 in Hamburger Hauptschulmodell (HHM), which works with schools, companies and the Bundesagentur für Arbeit (Federal Agency for Employment), to source apprenticeships for secondary modern school leavers. Since it was established seven years ago, HHM has worked to double the number of young people leaving secondary modern schools who go on to non-state-funded commercial training positions in Hamburg. The PEF grant will enable HHM to increase public awareness and encourage more companies to offer apprenticeships.
Shaks Ghosh, chief executive of PEF, said, “We believe that this is a programme which has real potential to scale up and help many more young who are currently stuck waiting for training positions.”
PEF will also provide pro bono business expertise from its members. Michael Goedeke, head of HHM, said, “PEF’s experience in the UK and dedication towards young people means that it provides us not only with financial support, but also the understanding and expertise necessary to our work.”
