Press release: UK support for Ukraine reform

first_imgFurther information Follow the Foreign Secretary on Twitter @BorisJohnson and Facebook Follow the Foreign Office on Twitter @foreignoffice and Facebook Follow the Foreign Office on Instagram, YouTube and LinkedIn Media enquiries Boris Johnson discussed the contribution at the Ukraine Reform Conference – a year after the UK hosted the inaugural summit in London.Since then, Ukraine has made great strides in tackling corruption and improving transparency across Ukrainian institutions, and important progress on decentralisation and healthcare reform.The Foreign Secretary Boris Johnson said:“With Russia continuing its efforts to destabilise Ukraine, and the occupation of Crimea ongoing, Britain must help to lead the way on ensuring Ukraine has a bright, stable and prosperous future“That’s why we continue to provide support, which will help Ukraine to build on the progress it has made since 2014 and on key reforms since the inaugural London Reform Conference last year“We do all this because it is essential for Ukraine’s future security and prosperity, and because it is essential for upholding our European values, our security and our prosperity.”The funding will provide practical support to strengthen Ukraine’s sovereignty and resilience, and ensure the reform momentum continues. It includes help for projects in Ukraine to bolster further reform across the country’s institutions, eliminate corruption, and increase independent oversight of state organisations.The UK is already doing pioneering work in Ukraine to help tackle Russian disinformation. This includes support to Ukraine’s public broadcaster, a project to help Ukrainian schools to build resilience against disinformation, and funding for an NGO network across Europe to debunk fake media stories.The Foreign Secretary also held talks with Danish foreign minister Anders Samuelsen while in Copenhagen.NOTES:Funding includes: For journalists £13.4 million on conflict, security and stability projects to bolster Ukrainian defence reform, promote peace-building, eliminate corruption and increase civilian oversight £11 million to support reform in Ukraine through the Good Governance Fund with a wide range of programmes to help Ukraine drive forward governance, economic and political reform. Through this, we are supporting key institutions like the Business Ombudsman and the National Anti-Corruption Bureau. £6 million in humanitarian aid. £5 million this year to help Ukraine counter Russian disinformation. Email [email protected]last_img read more

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Trio of Dutch asset managers launch joint private equity platform

first_imgPrivate equity funds usually charge management fees based on assets including cash yet to be invested, and lock that cash in for several years. However, the new investment platform said that, if not all committed assets were used during the year due to a lack of available deals, assets would be returned.The pension fund clients of the three asset managers have invested 3-5% of their entire portfolio on average in private equity, most of which is allocated to pooled funds.Achmea IM has allocated 10% of its private equity holdings to co-investments and, according to Van Gisbergen, the company aimed to double this allocation in the coming years. Van Gisbergen said that the fund for 2019 comprised more than €100m, which would be largely invested in small and medium-sized companies with a market value of between €200m and €300m.Achmea, Blue Sky and SPF are to jointly take a minority stake, which would be scaled up to majority holdings through co-investment by a private equity fund.The three players expected that their combined clout would make them qualify sooner for co-investment deals.Van Gisbergen said: “In the past, we had little access to deals, as the large players, such as the €215bn PGGM, would be involved earlier.”Blue Sky Group runs €22bn for three schemes sponsored by Dutch airline KLM, while SPF Beheer manages €20bn for clients including the railways scheme SPF and the public transport pension fund SPOV.Achmea IM is the €130bn asset manager for institutional investors, insurer Achmea and general pension fund Centraal Beheer APF, part of the Achmea group. The Dutch asset managers Achmea IM, Blue Sky Group and SPF Beheer have established a joint platform for co-investments in private equity.The companies, which jointly manage €172bn, said the collaboration aimed to significantly reduce costs.“Although an external specialist would be needed for the adequate implementation of the programme, costs could be more than halved,” said Jos van Gisbergen, senior portfolio manager for private equity at Achmea IM.Pension fund clients would be able to decide each year how much they each wanted to invest.last_img read more

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