NEW YORK, May 16, 2016 (GLOBE NEWSWIRE) -- Guggenheim Partners is proud to announce the launch of a new Corporate Social Responsibility venture strategy designed to identify and foster the development of visionary non-profit organizations that have chosen to tackle some of the most challenging issues facing the world today – PROPEL10.
As part of the PROPEL10 program, Guggenheim Partners will invest up to $100,000 in 10 high-performing, early stage non-profit organizations that use innovative solutions to solve enduring social problems. In addition, the firm will deploy its “creative capital,” any non-financial contribution that Guggenheim Partners can provide through accessing its network of specialized skills and resources.
“We are excited to blend our financial contributions with our creative capital to propel non-profit organizations to greater scale,” said Penny Zuckerwise, Head of Corporate Social Responsibility at Guggenheim Partners. “We have a track record as a firm of producing tremendous results that stem from applying new thinking to market challenges, and we look forward to replicating that approach in driving Guggenheim’s social impact through this venture strategy.”
Interested and eligible non-profit organizations may submit applications online at www.guggenheimpartners.com/propel10. Applications are due by May 31 at 5:00 p.m. ET. Vetting will occur in multiple rounds, and a portfolio of organizations will be selected by year-end.
About Guggenheim Partners
Guggenheim Partners is a global investment and advisory firm with more than $240 billion1 in assets under management. Across our three primary businesses of investment management, investment banking, and insurance services, we have a track record of delivering results through innovative solutions. With 2,500 professionals based in more than 25 offices around the world, our commitment is to advance the strategic interests of our clients and to deliver long-term results with excellence and integrity. We invite you to learn more about our expertise and values by visiting GuggenheimPartners.com and following us on Twitter at twitter.com/guggenheimptnrs.
1Assets under management are as of 3.31.2016 and include consulting services for clients whose assets are valued at approximately $56bn.
The preparation and distribution of this press release does not constitute a form of commitment or recommendation relating to the proposed grant of capital. The information contained herein is as of the date indicated and reflects present intention only. This information is subject to change at any time, and Guggenheim Partners is under no obligation to provide recipient with any updates or amendments to this press release. Guggenheim Partners makes no representation as to, and accepts no responsibility for, the accuracy, fairness or completeness of the information contained herein. Neither Guggenheim Partners, nor any of its affiliates, are, and do not purport to be, an advisor as to legal, taxation, accounting, financial or regulatory matters in any jurisdiction in connection with the information contained in this press release. The recipient should independently evaluate matters referred to, and set forth in, this press release.
Media Contact: Ellen Cunningham Guggenheim Partners 212.518.9578 Ellen.N.Cunningham@GuggenheimPartners.com