Private equity specialist Partners Group has hired former U.K. Prime Minister Gordon Brown as an adviser. His task at the Swiss wealth manager has much to do with his past as a leader of the Labour Party.
Gordon Brown, who succeeded Tony Blair as prime minister, will advise Zug-based Partners Group on so-called impact investments, «The Wall Street Journal» reported on Thursday (behind paywall).
Brown, prime minister between 2007 and 2010, will take a seat on the advisory board of the PG Life fund. The fund invests in projects that aim to have a positive social and ecological impact and follow the ESG standards of the United Nations (UN).
With Ex-Foreign Minister
Brown will examine the investments of the fund in relation to the sustainability goals of the United Nations. Vuk Jeremic, a former president of the UN general assembly and ex-foreign minister of Serbia, is also a member of the advisory board. Brown will donate his fee to the charity he founded with his wife.
Brown was present at the annual general meeting of Partners Group in March 2018, held at the Buergenstock resort in Switzerland, where the PG Life fund was first presented. The former Labour leader took part of the first formal meeting of the PG Life board held at the time.
