Yesterday, at our Second Annual Investment Community Breakfast, we brought together more than 100 professionals from the investment community for a morning of inspiration, and thanks to the investment from our attendees and an anonymous match, we were able to raise more that a quarter million dollars before 9am. This year’s breakfast featured two longtime friends and industry insiders, Fred Poses, Chief Executive Officer of Ascend Performance Materials and Operating Partner of SK Capital Partners, and Louis A. Simpson, Chairman of SQ Advisors, LLC, for a discussion moderated by Gerry Fabrikant, former senior writer for the business section of the New York Times.
We enjoyed their take on the state of the economy, world markets, and how the tax code is influencing growth. We also discussed education reforms and the role philanthropy can play. “One of the big problems in the U.S., is that companies want to expand in the U.S. but they can’t find the workforce that is trained to do the jobs,” said Mr. Simpson, “this is basically a fault of our education system in crucial areas.” Today Mr. Simpson pledged to join our Individual Team Sponsor Program and encouraged others to do the same, “I hope all of you will join me because I think it’s [City Year] a great organization.”
“Lou wants to give money, whether it is an investment or through philanthropy, to people and organizations that are doing good things, and doing them as effectively as they could,” said Mr. Poses, as he praised Mr. Simpson for his pledge. Mr. Poses is working with a team at CYNY helping to determine the most effective way for us to grow our impact in schools. “Philanthropy is not only about giving, but giving of your skills and tools” he said, “some of our most rewarding moments are working with the people in nonprofits and seeing all that they can do to make themselves better.”
We would not be able to host an event like this without the dedication of our Investment Community Board (ICB). ICB member, Shreyas D Gupta from Sandell Asset Management, spoke about his first introduction to City Year and how he found himself making it a priority in his life. “If these young adults want to give one year of their life to helping the community it is incumbent on us to rise up to support them,” said Mr. Gupta. “They represent a vast ocean of potential and that is very important to me.”
We would like to thank Barclays Capital and CYNY Advisory Board Member Jeff Davis for hosting this event.
And a final thank you to our Investment Community Board (listed below) and to all of our attendees for your investment in City Year.
2012 INVESTMENT COMMUNITY BOARD
REED CARROLL Butler Capital Investments, LLC
DREW CHIN Woodson Capital Management
TOM CLARK Apax Partners
BEN FARKAS Hellman & Friedman
JUSTIN FRANKEL Wavecrest Asset Management
SHREYAS GUPTA Sandell Asset Management
WILDER HARVARD Morgan Stanley | Prime Brokerage
TYLER HENRITZE The Blackstone Group
DAVID HOBBS Tiger Eye Capital
ROB PAHLAVAN Family Equity Partners, LLC
DOUG ROSS Normandy Hill Capital, LP