CHARLOTTE, N.C., June 22, 2023 /PRNewswire/ — Ten Oaks Group, a family office investment firm focused on investing in corporate divestitures, is pleased to announce the launch of the Ten Oaks Philanthropic Fund (TOPF). TOPF is a philanthropic vehicle, funded by the Magan and Hahn families, that will be focused on improving the quality of life for Charlotte-Mecklenburg area residents. With an initial annual operating budget in excess of $1.0 million per year, TOPF will provide financial and operating resources to enhance education, career, entrepreneurship, and family unit services for high opportunity families in the Charlotte community.
TOPF was created to expand existing non-profit organizations supported by Ten Oaks Group, namely CLTRising and CLTImpact, in addition to supporting new entrepreneurial philanthropic initiatives. With a focus on optimizing quality of life for Charlotte area residents, the fund will support programs and initiatives that affect a ‘quality of life increase’ as a measurable return on philanthropic investment. TOPF will work closely with local community leaders to identify areas where its resources can make the most significant impact and will have the flexibility to both self-perform and partner with community organizations to affect change.
“We are thrilled to launch the Ten Oaks Philanthropic Fund and continue our commitment to improving the Charlotte community,” said Matt Magan. “Through this fund we will make philanthropic investments in education/college access, athletic access, entrepreneurship access, and family services support. We hope to create lasting change that will benefit high-potential families in Charlotte.”
TOPF will not seek funding outside of the Ten Oaks Group co-founders, Matt Magan and Mike Hahn, but is open to reviewing philanthropically entrepreneurial initiatives or partnership concepts that can achieve the TOPF mission.
“Matt and I are grateful for the opportunity to support our community in this way,” said Elizabeth Magan. “We believe that by working together, we can help build a stronger, more vibrant Charlotte.”
About Ten Oaks Group:
Ten Oaks Group is a family office focused exclusively on investing in corporate divestitures. It brings speed, flexibility and certainty to divestitures of non-core businesses that no longer fit their parent company’s corporate strategy. Following acquisition, Ten Oaks Group leverages its experienced team of operating partners to manage the transition and separation process and implement operational strategies that reveal and optimize the underlying potential of each business.
Each company within Ten Oaks Group operates independently under its own dedicated management team and receives management support services from Ten Oaks Management, LLC. Ten Oaks Group was founded by Matt Magan and Mike Hahn and has closed 25 carve-out transactions across 10 countries since inception.
To learn more about Ten Oaks Group’s unique approach to corporate divestitures, please visit www.tenoaksgroup.com.
For more information on TOPF, please visit www.tenoaksgroup.com/philanthropy.
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