The Private Equity Foundation invests in its first German charity

The Private Equity Foundation (PEF) has made its first German investment in a charity which sources apprenticeships for secondary modern school leavers. The leading venture philanthropy fund is donating €180,000 to the Hamburger Hauptschulmodell (HHM), alongside pro bono business expertise from its members.

Since it was established seven years ago, HHM has worked in co-operation with schools, companies and the Bundesagentur für Arbeit (Federal Agency for Employment) to more than double the number of young people with a secondary modern leaving certificate who go on to non-state-funded commercial training positions in Hamburg. However, the number benefiting is still small and PEF's donation, alongside its voluntary engagement, will give the HHM the capacity to expand public awareness not only of its programme, but the situation facing school leavers looking for employment. It will enable the HHM to encourage more companies to offer apprenticeships and ultimately, to roll out similar projects throughout Germany.

Shaks Ghosh, Chief Executive of the Private Equity Foundation, said: "PEF was very impressed by the HHM's ability to coordinate regional commercial businesses, employment agencies and educational institutions. 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. We look forward to working closely with management to help HHM implement its strategy."

Michael Goedeke, Head of the HHM, said: "The support we have received from PEF is an important step towards further increasing awareness of the HHM and hence offering even more young people the opportunity to secure themselves apprenticeships. 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 for our work."

For further information please contact Rosie Davey at rosie@privateequityfoundation.org or call 020 7749 5129 / 07827 804066