Pan-Mass Challenge Announces Sponsorship from Berkshire Partners
Boston, Massachusetts, March 28, 2017- The Pan-Mass Challenge® (PMC) is pleased to announce that Berkshire Partners, a Boston-based investment firm, has signed on as an official sponsor of the PMC. Berkshire Partners will become the official sponsor of the PMC’s Wellfleet Waterstop, the final waterstop on the journey to Provincetown. For many years, employees, families and friends of Berkshire have volunteered at the waterstop and Berkshire has now made its sponsorship official.
“We are honored to be partnering with the PMC and supporting the ground-breaking work of the Dana-Farber Cancer Institute and the Jimmy Fund Clinic,” said Mike Ascione, a Managing Director at Berkshire. “Berkshire team members have participated in the PMC as both riders and volunteers for many years. In 2016 we had a team of over 50 people ride and volunteer during PMC weekend. The PMC is an incredible organization, a truly iconic philanthropic event and we look forward to Berkshire being an active participant and supporter for many years to come.”
The PMC is the nation’s most successful athletic fundraising event, raising and contributing more money to charity than any other. Set for August 5 and 6, 2017, the PMC will draw more than 6,200 cyclists and 4,000 volunteers to the two-day bike-a-thon with the goal of raising $48 million to support patient care and cancer research at Dana-Farber. If accomplished, this fundraising goal will bring the PMC’s 38-year contribution to Dana-Farber to more than $595 million. The PMC is Dana-Farber’s largest single contributor, raising more than 52 percent of the Jimmy Fund’s annual revenue.
“We are thrilled to have Berkshire join us as a sponsor,” said Billy Starr, PMC founder and executive director. “The PMC was built on the support from our community and we always welcome the opportunity to partner with a Boston-based institution like Berkshire. Berkshire has been a part of the PMC family for many years on and off the road, and we look forward to continuing this relationship through this newly forged sponsorship.”
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About The Pan-Mass Challenge
The Pan-Mass Challenge (PMC) is an annual bike-a-thon that today raised more money for charity than any other single athletic fundraising event in the world. The PMC was founded in 1980 by Billy Starr, who remains the event’s executive director, an annual cyclist, and a fundraiser. The PMC has since raised $547 million for adult and pediatric patient care and cancer research at Dana-Farber Cancer Institute through the Jimmy Fund. The event donates 100 percent of every rider-raised dollar directly to the cause. The PMC generates more than 52 percent of the Jimmy Fund’s annual revenue and is Dana-Farber’s single largest contributor. The PMC has successfully melded support from committed cyclists, volunteers, corporate sponsors and individual contributors. All are essential to the PMC's goal and model: to attain maximum fundraising efficiency while increasing its annual gift. The PMC’s hope and aspiration is to provide Dana-Farber's doctors and researchers with the necessary resources to discover cures for all cancers. For more information on the Pan-Mass Challenge, log onto www.pmc.org.
About Berkshire Partners LLC
Berkshire Partners, a Boston-based investment firm, pursues investments in both private equity and marketable securities. Since 1986, the firm has raised nine private equity funds with more than $16 billion in aggregate capital and has made over 115 investments in primarily middle market companies. Berkshire has developed specific industry experience in several areas including consumer products and retail, communications, business services, industrials and healthcare. Within private equity, Berkshire seeks to invest $50 million to $500 million of capital in each portfolio company and has a strong history of partnering with management teams to grow the companies in which it invests with the goal of consistently achieving superior investment returns. The firm invests in marketable securities through Stockbridge Investors, which was founded in 2007 and seeks to manage a concentrated portfolio of attractive long-term investments. Collectively, the firm benefits from its shared experiences, insights and relationships. For additional information, visit www.berkshirepartners.com.
Jean Gulliver, Berkshire Partners Bill Alfano, Pan-Mass Challenge