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Press Release
Sterling Stamos Capital Management, L.P. Announces $2 Million Gift to Clinton Foundation HIV/AIDS Initiative
Donation Will Support Programs to Scale Up National Care and Treatment for
HIV/AIDS in Cambodia and the Dominican Republic
NEW YORK, July 20 /PRNewswire/ -- Sterling Stamos Capital Management, L.P. announced today the initial funding of an expected total commitment of
$2.1 million to the William J. Clinton Foundation for its HIV/AIDS Initiative's work in Cambodia and the Dominican Republic. Sterling Stamos is a private investment firm with principal offices in New York City and Menlo Park, California.
"I am grateful to Sterling Stamos for their generous commitment to my foundation's AIDS work," President Clinton said. "This donation will help significantly increase the number of people in Cambodia and the Dominican Republic receiving life-saving AIDS drugs."
Peter Stamos, Chairman & CEO of Sterling Stamos, commented, "Our contribution to the Clinton Foundation HIV/AIDS Initiative is an integral part of our investment philosophy -- one that recognizes quality healthcare not only as a human right, but as the foundation for economic growth. We view our partnership with the Clinton Foundation as one of the best long-term investments our firm can make."
In addition to their engagement with the Clinton Foundation HIV/AIDS Initiative (CHAI), Sterling Stamos supports the Angkor Hospital for Children in Cambodia and Partners In Health (founded by Drs. Paul Farmer and Jim Kim). The firm, which has over $3 billion in assets under management, is a registered investment adviser that invests broadly across five major asset classes -- fixed income, absolute return, public market equities, real assets, and private equity.
As of July 2006, over 400,000 people living with HIV are benefiting from medicines purchased under Clinton Foundation agreements. The Foundation provides access to reduced prices for HIV/AIDS drugs and diagnostics to a total of 58 countries, and currently assists 28 countries in Africa, the Caribbean and Asia in implementing large-scale, integrated HIV treatment, care and prevention programs. Individual governments take the lead and the CHAI provides technical assistance, mobilizes human and financial resources, and facilitates the sharing of best practices across projects. CHAI's newest initiatives are focused on increasing access to treatment for pediatric patients and rural populations.
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