A private equity firm is supporting one of its portfolio companies in creating an emergency shelter for Ukrainian civilians in Belgium.
The Riverside Company is backing pharmaceutical group Alter Pharma, which is setting-up the shelter for Ukrainian civilians who “urgently need a safe harbor, particularly women or families with young children”.
The shelter is being located in Anderlecht and could receive up to 60 people.
Alter Pharma said it was “deeply touched by the stories from people crossing the Ukrainian border at night, families sleeping in shopping malls and metro stations, and the images of children being separated from their parents”.
Other supporters include other companies at the site, such as Fujitsuand Multipharma.
The building has 15 dorms, common areas equipped with computers and internet access, a childcare area and an office for administrative support and medical assistance.
Volunteers will bring food into a canteen.
The initiative comes as private equity firms take greater interest in their own and their portfolio companies’ ESG commitments.
Riverside says: “We’ve even added to the acronym. Around here, it’s ESG+V, for values. That V is in part a hard-earned letter, as we’ve been burned by companies who lack them, and seen excellence from companies that exemplify them.”
*Alter Pharma is calling on donations to help with humanitarian aid. Details online form is here.
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