The Robert Toigo Foundation and The Carlyle Group have launched the Toigo Private Equity MBA Fellowship, an industry initiative aimed at attracting minority MBA graduates to the sector.
Serving as the fellowship’s inaugural partner, The Carlyle Group has pledged USD1m over four years to support Toigo’s launch of the effort.
Toigo is a non-profit organisation that has supported the development of minority MBAs as finance leaders for the past 20 years.
“Toigo’s mission is to change the face of finance—and we believe the Toigo Private Equity MBA Fellowship will serve as a catalyst within the private equity sector by attracting top minority MBA graduates in the same way Toigo’s Fellowship programme has provided entree into the investment management community for the past 20 years,” says Nancy Sims, president, Robert Toigo Foundation. “The growing number of Toigo fellows and alumni focused on private equity balanced with the perceived barriers to entry sparked Toigo’s efforts to address the disparity. Our long-standing relationships with the investor/plan sponsor community were instrumental in shaping the program and will provide Fellows with meaningful exposure to all facets of the private equity industry.”
The new fellowship is a year-long, three-part rotation designed to provide each fellow with unmatched exposure to the trillion dollar sector. The rotation includes work at the private equity firm, a plan sponsor and a portfolio (or operating) company, as well as a focused private equity training session by Toigo. Selected fellows will receive an annual stipend, including a USD50,000 MBA tuition payment to assist in reducing their MBA loan exposure.
“Carlyle’s commitment to bring diverse talent to the private equity arena is absolute. Together with Toigo, we’re launching this fellowship opportunity for minority MBA graduates interested in pursuing a career in private equity,” says David M. Rubenstein, managing director and co-founder, The Carlyle Group. “We recognise the tremendous value diverse teams and diverse experiences bring to our firm and the industry as a whole, and believe more must be done to accelerate how we attract and retain minority talent within the industry. The Toigo Private Equity MBA Fellowship is a significant and meaningful step.”
