Tuesday, April 10, 2007
RICH WILL HELP BOOST AFRICAN HEALTHCARE
By Andrew Jack in London
Tuesday, April 10, 2007, FT
UBS, the Swiss bank, is working with a leading philanthropic consultancy to launch an investment fund for wealthy individuals willing to accept modest financial returns in exchange for supporting private healthcare projects in Africa.
Mark Kramer, head of FSG-Social Impact Advisers in Boston, told the FT that he hoped a fund he developed to raise between $75m and $100m (£51m) would be launched in the next few months, targeted at investors willing to contribute at least $1m each.
The initiative aims to tap a growing appetite among wealthy people to seek “social” or “blended” returns from projects that use business skills and are run along commercial lines but which hope to provide broader social benefits.
The aim of the new fund would be to offer participants financial returns of about 6-8 per cent a year, coupled with indicators measuring the success of the private health services they were backing.
Those services would hope to strengthen and complement Africa's weak and state-dominated provision of care. Investment bank advisers would help conduct due diligence on projects in Africa. ¶ 7:26 AM
Tuesday, April 10, 2007, FT
UBS, the Swiss bank, is working with a leading philanthropic consultancy to launch an investment fund for wealthy individuals willing to accept modest financial returns in exchange for supporting private healthcare projects in Africa.
Mark Kramer, head of FSG-Social Impact Advisers in Boston, told the FT that he hoped a fund he developed to raise between $75m and $100m (£51m) would be launched in the next few months, targeted at investors willing to contribute at least $1m each.
The initiative aims to tap a growing appetite among wealthy people to seek “social” or “blended” returns from projects that use business skills and are run along commercial lines but which hope to provide broader social benefits.
The aim of the new fund would be to offer participants financial returns of about 6-8 per cent a year, coupled with indicators measuring the success of the private health services they were backing.
Those services would hope to strengthen and complement Africa's weak and state-dominated provision of care. Investment bank advisers would help conduct due diligence on projects in Africa. ¶ 7:26 AM
