London, UK, 17 November 2014: The African Private Equity and Venture Capital Association (AVCA) today announces the appointment of Joseph Boateng, Chief Investment Officer of the U.S.-based operating foundation, Casey Family Programs, to AVCA’s Advisory Council. Joseph joins other experienced and distinguished practitioners on the Council, including Lindel Eakman of University of Texas Investment Management Company, Vincent LeGuennou of Emerging Capital Partners, Roderick Macmillan of The Carlyle Group, Mara Topping of White & Case, Solomon Wifa of O’Melveny & Myers, and Ben Zwinkels of AfricInvest Group.
AVCA’s Advisory Council was launched in 2012 to provide leadership and oversight to AVCA and to support the achievement of AVCA’s goals, including attracting more capital to the private equity and venture capital asset class in Africa.
Casey Family Programs was established in 1966 by Jim Casey, founder of United Parcel Service (UPS), and currently focuses on safely reducing the need for foster care and building Communities of Hope for children and families in all 50 states in the U.S., the District of Columbia and Puerto Rico. Joseph joined Casey Family Programs in January 2007 with responsibility to advise the foundation’s Board of Trustees on the investment of the foundation’s assets, which currently stand at US$2 billion. Before joining Casey Family Programs, Joseph was a member of the Johnson & Johnson Investment Committee, which was responsible for managing over US$17 billion in employee benefit assets worldwide. Joseph is also currently Chair of the Investment Advisory Committee for the Seattle City Employees’ Retirement System and a member of The Seattle Foundation’s Investment Committee.
With his roots in Ghana and over 20 years’ experience of managing institutional assets in the U.S., Joseph’s contribution to AVCA and the Advisory Council will be invaluable. At Casey Family Programs, Joseph has led the move to investing in more active strategies, including private equity, and has been a pioneer in terms of investing in private equity in Africa as a U.S.-based Limited Partner.
Commenting on his appointment, Joseph Boateng stated: ‘Navigating the investment landscape of emerging and frontier markets, including Africa, can be challenging, but we have worked hard to understand the opportunities and how we can access the growth and returns. U.S. institutional investors need to be closely looking at the continent to ensure they don’t miss the exponential growth we expect to see from Africa over the long-term. Bringing new investors to the continent is something I am passionate about, and I am delighted to be joining the Advisory Council to help propel this objective’.
Michelle Kathryn Essomé, Chief Executive Officer of AVCA commented: ‘We are delighted to have Joseph join our Advisory Council, and Casey Family Programs as a member of AVCA. Joseph brings significant experience investing globally and in Africa. He is a true ambassador for private equity in Africa, and for Africa as an investment destination. We look forward to his guidance and counsel as we continue to promote and enable the private equity and venture capital industry in Africa’.
For Joseph Boateng’s full biography, please see here.