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Fun-raising: PE runners seek €2.5m

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27 October 2010

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GPs including 3i, Apax, Arcus, Bridgepoint, Capvis, Coller, Meridiam and Platina have joined forces to raise €2.5m. LPs Adams Street, Capital Dynamics, Partners Group, Pantheon and Pomona are also taking part, with Campbell Lutyens, Ernst & Young, PEI and Lazard advising the conglomerate.

No, the figure is not a sign that negative economic forces have spawned cooperation amongst erstwhile competitors. Rather, it is 250 private equity and infrastructure investors lacing up to run the Marathon of Marathons in Athens on 31 October 2010. The race follows the original Marathon route and takes place on the 2,500th anniversary of the eponymous battle.

The participants have been running their fundraising efforts since August, and have already secured €1.4m in pledges for ten children's charities globally. The sums make it the single largest charitable fundraising initiative ever taken by the private equity and infrastructure communities.

This Herculean effort has attracted a number of celebrity patrons to promote the cause, including UNICEF ambassador Ewan McGregor and comedian Eddie Izzard. David Blitzer of Blackstone, Todd Fisher of KKR, Dwight Polar of Bain and Richard Laing of CDC are all acting as industry patrons, while the EVCA, BVCA, Indian Venture Capital Association (IVCA) and Australian Venture Capital Association (AVCAL) are each actively supporting the event among their members.

It is not too late to get involved, with a Supporters Club open to non-running firms. To join, a minimum donation of €2,500 is asked, with Abraaj, Barings Asia, Bowmark, Cinven, Factset, HgCapital, Milestone Capital and Permira all vying to become the highest supporter in the Club. To learn more about the event or to become a member of the Supporters Club, please go to www.marathonofmarathons.org.