This dossier of disgrace exposes the self- interest and lack of integrity


Social Finance Ltd and Goldman Sachs



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Social Finance Ltd and Goldman Sachs


There is a web of connections between Social Finance, Goldman Sachs, and other major private investors.
Social Finance Ltd’s biggest shareholder is a charitable trust called Hadley Trust, set up by computer company entrepreneur Philip Hulme. Hadley Trust’s shares and other investments are managed by Goldman Sachs.
Besides Andrew Law, at least another six Social Finance board members and executives are former Goldman Sachs employees:
David Blood. Board member of Social Finance Ltd. Co-founder and board member of Social Finance US. Co-founder and Senior Partner of Generation Investment Management. Worked for 18 years at Goldman Sachs, and was co-CEO and CEO of Goldman Sachs Asset Management from 1999-2003.
Peter Wheeler. Board Member of Social Finance Ltd. Formerly Goldman Sachs Partner and Managing Director. 168
Bracebridge H. Young, Jr. Chair of the Board Of Social Finance US. Formerly Partner and head of European Debt Capital Markets at Goldman Sachs.
Sonal Shah. Vice Chair of the Board of Social Finance US. Former Vice President at Goldman Sachs.
Fiona Miller Smith. Chief Operating Officer at Social Finance, previously worked at Goldman Sachs.169
Tim Rothery. Associate Director, Social Finance Ltd. Previously Vice President at Goldman Sachs.
Another important (but not Goldman Sachs) connection:
Sir Ronald Cohen. Co-founder and director of Social Finance US. Chair of Big Society Capital. Co-founder and chairman of Apax Partners, the global private equity firm that owns 32% of General Healthcare Group (the UK’s biggest private hospital company, which has major NHS contracts).



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2 http://www.mirror.co.uk/news/politics/2011/01/19/nhs-reform-leaves-tory-backers-with-links-to-private-healthcare-firms-set-for-bonanza-115875-22859373/

3 http://www.telegraph.co.uk/news/newstopics/mps-expenses/6989408/Andrew-Lansley-bankrolled-by-private-healthcare-provider.html

4 http://www.bridgepoint.eu/en/news/press-releases/2010/recommended-proposals-for-the-acquisition-of-care-uk-plc-by-bridgepoint/

5 http://www.mirror.co.uk/news/politics/2011/01/19/nhs-reform-leaves-tory-backers-with-links-to-private-healthcare-firms-set-for-bonanza-115875-22859373/

6 http://www.telegraph.co.uk/news/newstopics/mps-expenses/6989408/Andrew-Lansley-bankrolled-by-private-healthcare-provider.html

7 http://www.channel4.com/news/andrew-lansleys-nhs-plans-still-in-good-health

8 http://www.jpmorgan.com/tss/General/Healthcare_/1102380191740

9 http://www.jpmorgan.com/tss/General/Healthcare_/1102380191740

10 http://www.penna.com/news-and-events/Detail/hmfa-and-penna

11 http://www.publications.parliament.uk/pa/cm/cmregmem/1782/bellingham_henry.htm

12 http://www.squiresanders.com/london/

13 http://www.squiresanders.com/de/underperforming_nhs_trusts_challenges_and_opportunities_for_the_private_sector_01-30-2009/

14 http://www.paconsulting.co.uk/industries/government-and-public-services/supporting-nhs-clients-through-their-reconfiguration-journey/

15 http://www.paconsulting.co.uk/industries/government-and-public-services/transforming-healthcare/helping-organisations-respond-to-the-nhs-transition/

16 http://www.theyworkforyou.com/regmem/?p=10079

17 http://www.mirror.co.uk/news/politics/2011/01/28/tory-party-links-to-private-healthcare-companies-115875-22880670/

18 http://www.guardian.co.uk/business/astrazeneca

19 http://www.greenhill.com/index.php?option=com_content&task=view&id=137&Itemid=289

20 http://www.pressreleasepoint.com/hitachi-consulting-uk-enables-london%E2%80%99s-primary-care-trusts-monitor-and-benchmark-performance-online-

21 http://www.lexcomm.co.uk/our-services/healthcare-communications

22 http://whoslobbying.com/uk/lexington_communications

23 http://www.publications.parliament.uk/pa/cm/cmregmem/1782/davis_rt-hon-david.htm

24 http://www.agincare.com/news/article/richard-dr

25 http://www.publications.parliament.uk/pa/cm/cmregmem/1782/duncan-smith_rt-hon-iain.htm

26 http://www.google.co.uk/url?sa=t&rct=j&q=baronsmead%20vct-4-plc%20healthcare&source=web&cd=1&ved=0CDMQFjAA&url=http%3A%2F%2Fwww.baronsmeadvcts.co.uk%2Fdownload.asp%3Fid%3D149%26v%3D4&ei=s3OJT6n6JqPF0QWahcS8CQ&usg=AFQjCNFikmkuZVKMKEAlKeOznafGPINqIA&sig2=QxxmiD7VCnpQp2hPaIo48Q

27 http://www.publications.parliament.uk/pa/cm/cmregmem/1782/fallon_michael.htm

28 http://www.ellwoodandatfield.com/nhsbt/

29 http://www.publications.parliament.uk/pa/cm/cmregmem/130507/130507.pdf

30 http://powerbase.info/index.php/Pfizer

31 http://powerbase.info/index.php/Liam_Fox_Register_of_Members_Financial_Interests#Register_as_at_28th_September_2011

32 http://www.ipgl.co.uk/cyprotex/

33 http://www.4d-biomedical.com/

34 http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm101111/debtext/101111-0003.htm

35 http://www.carematters-uk.com/index.php?page=long-term-care

36 http://www.publications.parliament.uk/pa/cm/cmregmem/1782/freer_mike.htm

37 http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CCQQFjAA&url=http%3A%2F%2Fwww.lek.com%2Fsites%2Fdefault%2Ffiles%2FL.E.K._DeliveringIntegratedHealthcareintheCommunity.pdf&ei=4y5BVOuhL6Gf7ga2o4CAAw&usg=AFQjCNFTsQHRnCyMzTHjYk724j0_D1Gkiw&sig2=Qy0AMpyPcZs8KCTQ2vHkUA&bvm=bv.77648437,d.ZGU

38 http://searchthemoney.com/associate/1060

39 http://www.publications.parliament.uk/pa/cm/cmregmem/080311/memi12.htm

40 http://www.electoralcommission.org.uk/

41 http://www.bloomberg.com/profiles/companies/1885206Z:LN-mmc-ventures-ltd

42 http://www.thepracticeplc.com/

43 http://www.castlemead-ltd.co.uk/

44 http://www.publications.parliament.uk/pa/cm/cmregmem/130507/130507.pdf

45 http://cheltenham-gloucesteragainstcuts.org/2012/05/04/two-gloucestershire-tory-mps-accepted-donations-from-controversial-super-rich-private-health-investor/

46 http://www.electoralcommission.org.uk/

47 http://www.electoralcommission.org.uk/

48 http://wallstcheatsheet.com/stocks/major-healthcare-stock-positions-of-caxton-associates.html/

49 http://www.margotjames.com/about

50 http://www.wpp.com/annualreports/2011/how-were-doing/reports-from-our-operating-brands/healthcare-communications/index.html

51 http://www.wpp.com/wpp/companies/ghg/office/grey-healthcare-group-new-york/

52 http://www.publications.parliament.uk/pa/cm/cmregmem/130610/130610.pdf

53 http://www.moundsleyhall.com/

54 http://www.electoralcommission.org.uk/ http://www.electoralcommission.org.uk/

55 http://www.electoralcommission.org.uk/

56 http://www.palmercapital.co.uk/about2.php

57 http://www.electoralcommission.org.uk/

58 http://www.outdoormedicalsolutions.co.uk/

59 http://www.theyworkforyou.com/regmem/?p=24765

60 http://www.powerbase.info/index.php/N.M._Rothschild_%26_Sons

61 http://www.powerbase.info/index.php/N.M._Rothschild_%26_Sons

62 http://www.cps.org.uk/files/reports/original/111027171245-BritainsBiggestEnterprise1988.pdf

63 http://www.investegate.co.uk/article.aspx?id=200511020700074778T

64 http://www.tfpl.com/resources/health_sig.cfm

65 http://www.publications.parliament.uk/pa/cm/cmregmem/140616/lilley_peter.htm

66 http://www.publications.parliament.uk/pa/cm/cmregmem/130507/loughton_tim.htm

67 http://www.conservatives.com/People/Members_of_Parliament/Macleod_Mary.aspx

68 http://powerbase.info/index.php/Francis_Maude

69 http://www.publications.parliament.uk/pa/cm/cmregmem/081008/memi19.htm

70 http://www.publicishealthcare.com/en/contactUs.aspx

71 https://www.gov.uk/government/people/maria-miller

72 http://www.publications.parliament.uk/pa/cm/cmregmem/081008/memi19.htm

73 http://www.independent.co.uk/life-style/health-and-families/health-news/nhs-pulls-the-plug-on-its-11bn-it-system-2330906.html

74 http://www.hanovercomms.com/downloads/03%20Penny%20Mordaunt%20appointment%20-%2016.02.09.pdf

75 http://www.allelefund.com/

76 http://www.publications.parliament.uk/pa/cm/cmregmem/140616/newmark_brooks.htm

77 http://www.spinwatch.org/blogs-mainmenu-29/tamasin-cave-mainmenu-107/5419-lobbyists-in-the-heart-of-government

78 http://www.publications.parliament.uk/pa/cm/cmregmem/1782/norman_jesse.htm

79 http://www.chesterchronicle.co.uk/chester-news/local-chester-news/2010/01/28/eddisbury-mp-stephen-o-brien-slams-news-of-the-world-for-article-linking-him-to-private-health-care-firms-59067-25700217/

80 http://www.independent.co.uk/news/uk/politics/cameron-fears-candidates-links-to-lobbying-industry-1926157.html

81 http://www.bcg.com/expertise_impact/industries/health_care_payers_providers/default.aspx

82 http://www.bcg.com/expertise_impact/industries/health_care_payers_providers/default.aspx

83 http://www.bcglondon.com/about_bcg/graham_rich.aspx

84 http://www.osac.org.uk/accountancyfirm/144/

85 http://www.grant-thornton.co.uk/en/Sectors/Health-Services/Healthcare/

86 in 2003

87 http://www.webershandwick.co.uk/homepage-sections/what-we-are-up-to/158

88 http://en.wikipedia.org/wiki/Huntsworth

89 http://blogs.wsj.com/deals/2009/07/31/the-pharmaceuticals-banker-that-helped-evercore-land-a-4-billion-mandate/

90 http://www.glgresearch.com/Council/Healthcare.html

91 http://www.epicprivateequity.com/aboutepe_home.html

92 http://www.epicprivateequity.com/portfolio_epe_special_opportunities_plc.asp

93 http://www.cps.org.uk/files/reports/original/111027171245-BritainsBiggestEnterprise1988.pdf

94 http://www.google.co.uk/url?sa=t&rct=j&q=redwood%20emerging%20markets%20dividend%20income%20fund%20healthcare&source=web&cd=3&ved=0CHYQFjAC&url=http%3A%2F%2Fwww.redwoodasset.com%2Fdoc_bin%2FQPD_REMDF.pdf&ei=EZa7T-fHIueX0QXe393gBw&usg=AFQjCNHkhQFNhPFQbNYTkL

95 http://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F00000M9PI&tab=3

96 http://www.lek.com/industries/healthcare-services

97 http://www.publications.parliament.uk/pa/cm/cmregmem/141013/rifkind_malcolm.htm

98 http://www.adamsmithinternational.com/

99 http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=6&sqi=2&ved=0CGIQFjAF&url=http%3A%2F%2Fwww.powerbase.info%2Findex.php%2FAdam_Smith_Institute&ei=z928T8m2D4nd8AOG78k7&usg=AFQjCNH5z-dcFyfEJaBDsRCb9Ejzvgb-mQ&sig2=B4xUxLtVCkjyH1ga3MmfsA

100 http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=4&sqi=2&ved=0CF0QFjAD&url=http%3A%2F%2Fwww.adamsmith.org%2Fnews%2Fin-the-news%2Ffrom-cradle-to-grave-the-death-of-the-nhs&ei=z928T8m2D4nd8AOG78k7&usg=AFQjCNGmHDQs2Io9J9akdzHmJohfOakHVw&sig2=OzLm4ghumW5zjNeYdWIzag

101 http://www.alliancemedical.co.uk/who-we-are

102 http://wallstcheatsheet.com/stocks/major-healthcare-stock-positions-of-caxton-associates.html/

103 http://www.electoralcommission.org.uk/

104 http://parliament.telegraph.co.uk/mpsexpenses/interests/David-Ruffley/mp-10520

105 https://www.partnership.co.uk/paying-care-fees/http:/www.partnership.co.uk/care/

106 http://www.cinven.com/lib/docs/131233-partnership-annual-report-2010.pdf

107 http://www.guardian.co.uk/politics/2011/apr/19/spire-healthcare-nhs-cuts-boom-private-sector

108 http://www.eadt.co.uk/news/politics/suffolk_county_defends_its_care_home_decision_1_1966896

109 http://www.electoralcommission.org.uk/

110 http://www.mirror.co.uk/news/politics/2011/10/26/tory-mp-cashing-in-on-nhs-break-up-with-second-job-at-health-firm-115875-23515038/#ixzz1dJFD7uKw 

111 http://www.parliament.uk/documents/Mr%20Mark%20Simmonds%20MP.pdf

112 http://www.publicwhip.org.uk/mp.php?id=uk.org.publicwhip/member/40103

113 http://socialinvestigations.blogspot.co.uk/2012/04/four-key-members-of-associate.html

114 http://www.publications.parliament.uk/pa/cm/cmregmem/111129/111129.pdf

115 http://www.electoralcommission.org.uk/

116 http://www.principlehealthcare.com/parliamentary-and-scientific-committee.php

117 http://www.dh.gov.uk/prod_consum_dh/groups/dh_digitalassets/@dh/@en/documents/digitalasset/dh_132413.pdf

118 http://www.ft.com/cms/s/0/17eaba52-57bb-11e1-ae89-00144feabdc0.html#axzz1oVt9kaCI

119 http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=FIEUOP&univ=U

120 http://investors.morningstar.com/ownership/shareholders-major.html?t=AEXAF

121 http://investors.morningstar.com/ownership/shareholders-major.html?t=AXAHY

122 http://www.ehi.co.uk/news/industry/6575/humana_to_pull_out_of_uk

123 http://www.cqc.org.uk/directory/1-101662163

124 http://www.publications.parliament.uk/pa/cm/cmregmem/120430/120430.pdf

125 http://www.independent.co.uk/news/private-care-sought-for-nhs-bottomley-wants-health-firms-to-take-advantage-of-relaxed-treasury-rules-1455025.html

126 http://www.independent.co.uk/news/private-care-sought-for-nhs-bottomley-wants-health-firms-to-take-advantage-of-relaxed-treasury-rules-1455025.html

127 http://www.hgcapital.com/content/portfolio/investments/1/4

128 http://www.mirror.co.uk/news/politics/2011/01/19/nhs-reform-leaves-tory-backers-with-links-to-private-healthcare-firms-set-for-bonanza-115875-22859373/

129 http://www.sthree.com/en/page/our_brands_and_sectors/

130 http://www.publications.parliament.uk/pa/cm/cmregmem/141013/zahawi_nadhim.htm

131 http://www.mirror.co.uk/news/uk-news/sthree-nhs-reform-firm-links-3236237

132 http://www.totalpolitics.com/print/162072/the-end-of-year-mp-awards.thtml

133 http://www.channel4.com/news/who-are-the-southern-cross-care-home-landlords

134 http://www.bailliegifford.com/documentgateway.aspx?_id=8B61929D-0E76-4E68-B042-D16A4104228C

135 http://www.publications.parliament.uk/pa/cm/cmregmem/141013/campbell_menzies.htm

136 https://uk.linkedin.com/pub/steve-woolridge/10/253/440


137 http://southendccg.nhs.uk/policies/doc_view/582-item-13b-qfpcommittee-april-310714

138 http://www.publications.parliament.uk/pa/cm/cmregmem/141013/141013.pdf

139 http://www.alphamedical.org/pages/services/diagnosis-rehabilitation.php#

140 http://www.electoralcommission.org.uk/

141 http://www.electoralcommission.org.uk/

142 http://platonmedical.co.uk/

143 http://www.publications.parliament.uk/pa/cm/cmregmem/141013/smith_robert.htm

144 http://www.electoralcommission.org.uk/

145 As of September 30th, 2011, Caxton had investments in healthcare companies with an aggregate market value of $217.659 million. http://wallstcheatsheet.com/stocks/major-healthcare-stock-positions-of-caxton-associates.html/

146http://www.publicintegrity.org/2011/01/05/2232/hedge-funds-bet-heavily-republicans-end-election

147 http://www.rightweb.irc-online.org/profile/American_Enterprise_Institute

148 http://www.ft.com/cms/s/0/0ecc2df4-3679-11e3-8ae3-00144feab7de.html?siteedition=uk#axzz2tfXBS2jy

149 http://www.lawfamilycharitablefoundation.org/#social-finance

150 http://www.socialfinance.org.uk/impact/health-and-social-care/

151http://socialfinance.westgatecomms.com/wp-content/uploads/2014/07/Introduction-to-Social-Impact-Bonds.pdf

152http://www.socialfinance.org.uk/wp-content/uploads/2014/07/A-new-way-to-invest-in-better-healthcare.pdf

153 http://www.nuffieldtrust.org.uk/talks/social-investment-funding-sustainable-nhs

154 https://www.oppex.com/notice/SELL2WALES_ec9f14af2ead8ab1006559a8495058e2

155 http://www.mariecurie.org.uk/en-GB/Commissioners-and-referrers/Partnerships-and-innovations/Social-investment-in-end-of-life-care/

156 http://www.mariecurie.org.uk/en-GB/Commissioners-and-referrers/Partnerships-and-innovations/Social-investment-in-end-of-life-care/

157http://www.local.gov.uk/documents/10180/5920754/Introduction+to+Social+Impact+Bonds+-+Health,%20Social+Care+and+Addiction/293f328a-c5d3-4a59-9ea8-9ad5370fd7e3

158 https://www.oppex.com/notice/SELL2WALES_ec9f14af2ead8ab1006559a8495058e2

159 http://www.theguardian.com/society/2012/dec/11/homelessness-payment-results-social-bond

160http://www.standard.co.uk/news/london/new-funding-scheme-to-aid-londons-rough-sleepers-8346290.html

161 http://www.thirdsectorcap.org/wp-content/uploads/2014/01/MA-JJ-PFS-Frequently-Asked-Questions.pdf

162 http://www.bloomberg.com/markets/rates-bonds/government-bonds/us/

163 http://www.bloomberg.com/markets/rates-bonds/government-bonds/uk/

164http://uk.reuters.com/article/2013/11/12/us-goldman-social-impact-bond-analysis-idUKBRE9AB0ZD20131112

165 http://www.goldmansachs.com/what-we-do/investing-and-lending/urban-investments/case-studies/social-impact-bond-pdf.pdf

166 http://www.ft.com/cms/s/0/d7086aee-4493-11e3-a751-00144feabdc0.html?siteedition=uk

167 https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/217375/social-impact-bond-hmp-peterborough.pdf

168http://www.socialfinance.org.uk/about-us/board-and-team/

169 http://www.socialfinance.org.uk/staffmember/fiona-miller-smith/#sthash.kUR7hDqj.dpuf



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