Large-cap sponsors join philanthropic fund-of-funds

Rachel Lewis
25 February 2022

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Some of the world’s largest private equity firms including Advent, Bain and Cinven will donate their fees and carry in a philanthropic fund-of-funds managed by Greater Share, to be dispersed among global education NGOs.

The Greater Share Education Fund fund-of-funds will see wealthy individuals and other limited partners commit capital to be deployed across generalist funds managed by Advent, Bain, Cinven, Hg, Nautic Partners and Permira over a life span of ten years.

The wealthy individuals must commit a minimum of USD 500k and donate at least half of their capital gains to the scheme, while the private equity firms will donate their fees and carry in proportion to the investment to the scheme.

Greater Share hopes to donate USD 300m over a decade to eight NGOs focused on global education: AeioTU, Camfed, Kaivalya (KEF), KIPP, the London Early Years Foundation (LEYF), the National Institute for Student Success (NISS), Teach For All, and West London Zone.

Cinven said the strategy will create a “multiplier effect” on donations to provide the NGOs with long-term, unrestricted funding to scale their impact.

Advisors that work pro-bono on the fund include Apex, Bain & Company and Simpson Thacher & Bartlett, with additional support from Egon Zehnder, Fundrock, Greenbrook, Hamilton Lane, Haystack Digital, Rede Partners, Saranac and Structure.