Impetus Trust and The Private Equity Foundation announced today that they have merged, creating a new charity called Impetus - the Private Equity Foundation. The new venture was backed by multinational private equity firm Warburg Pincus. The investment firm's support is said to last up to three years.

The charity is a formalization of the two companies' long history of partnership in supporting growth, sustainability, and effectiveness. The focus of the charity focuses on projects utilizing philanthropic and openhanded models.

Warburg Pincuss said that it will provide support through "significant financial contribution" and non cash assets. These include pro bono volunteers.

Impetus - Private Equity Foundation's inaugural chairman will be Johannes Huth. He served as the chairman of Private Equity Foundation since 2011. He was also the Europe, Middle East, and Africa Head of KKR, a private equity firm.

New executives of the charity were named, including Louis Elson as the new deputy chairman, and Daniela Baron Soares as the charity's chief executive officer.