Carlyle Group, the giant global private equity firm with over $86 billion of assets
under management, is taking steps to attract more women and minorities into the private equity industry.
The firm has teamed up with The Robert Toigo Foundation to create an MBA fellowship program which includes time working at Carlyle, and experience with some of its portfolio companies and investors, according to Reuters.
The article quotes David Rubenstein, co-founder of Carlyle, as saying the private equity industry is “behind” investment banks and law firms in hiring women and minorities. “We hope this will lead to our recruiting some very talented minority MBAs,” he said. ”In our particular case, we do have the most senior women in the buyout world who are partners here, and we have a number of senior minority black partners, but we could do better,” he said. The firm has pledged $1 million over four years for the fellowship program.
The three-part fellowship rotation will provide each fellow with exposure to Carlyle, a portfolio company, and include focused private equity training from professionals at Toigo. Selected fellows receive an annual stipend, including a $50,000 MBA tuition payment to help pay off their MBA loans.
Second-year minority MBA students who are interested in private equity jobs can find more information and apply for the Toigo Private Equity MBA Fellowship by visiting www.toigofoundation.org
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