Duet Private Equity is pleased to announce that they have made a pledge to the Global Fund against HIV/AIDS, TB and Malaria as part of their Duet Cares CSR program following technical advice received from the Bill & Melinda Gates Foundation, a founding member of the Global Fund. The Global Fund has been instrumental in turning the tide on the three infectious diseases that are the biggest killers of people in the developing world – HIV/AIDS, TB and Malaria. In the 15 years since it was established, it has saved 20 million lives and averted hundreds of millions of new infections. In countries where the Global Fund invests, there are one-third fewer deaths from AIDS, TB, and malaria.
In addition, Duet Cares will contribute funds to support the rollout of the Primary Healthcare Performance Initiative (PHCPI). Founded by the World Health Organisation, the World Bank, the Bill & Melinda Gates Foundation in partnership with Ariadne Labs and Results for Development, the Primary Health Care Performance Initiative (PHCPI) to bring together country policymakers, health system managers, practitioners, advocates and other development partners to drive improvements in primary health care in low- and middle-income countries through better measurement and knowledge-sharing.
As part of Duet’s commitment to making a positive contribution to society, they have decided to commit 5% of the management fees and 5% of the performance fees of their new Duet Africa Private Equity Fund to two noble initiatives which addresses global issues in the countries where they invest.
The Duet Group, a leading global Alternative Asset Manager headquartered in London, with over $5.1 billion under management, has launched an Africa Private Equity Fund focusing on FMCG in East, West and Francophone Africa that will invest $300 million. This follows on Duet’s award winning success, and long track record, in the Africa region both in the public and private sectors.
Henry Gabay, the CEO of Duet Group and the CIO of Africa Private Equity said, “We are delighted to be joining the Bill & Melinda Gates Foundation and other donors in allocating funds to initiatives that create a strong and measurable impact in the countries where we operate. Whilst our PE efforts create jobs and spur commerce, we also have a social responsibility to recycle the capital we are generate to create real impact.”
Anja Langenbucher, Director for Europe of the Bill and Melinda Gates Foundation said: “We are very pleased that the Duet Group will be funding the Global Fund and PHCPI alongside the Bill & Melinda Gates Foundation and other donors. The Global Fund has proven to be one of the most effective tools for dramatically reducing and better treating the incidence of HIV/AIDS, TB and Malaria in the poorest parts of the world. We believe our collective efforts will meaningfully impact healthcare within Africa”.