Audax Private Equity and Management Leadership for Tomorrow (“MLT”) today announced a partnership that aims to increase the number of underrepresented minorities among private equity investors. Audax Private Equity will provide financial support for the initiative, as well as collaborate with MLT to develop curriculum, and make their professionals available to provide guidance and support for MLT Fellows pursuing careers in private equity.
MLT prepares African American, Latinx, and Native American women and men to succeed in high-trajectory, post-college jobs that deliver economic mobility for themselves and their families. MLT Fellows are able to access professional coaching, content to help them understand and meet “the bar” for career success, and an accelerating network. These critical tools enable Fellows to reach their full potential, and advance to leadership roles from which they are able to transform their communities and institutions.
“We’re excited that Audax Private Equity is committed to increasing diversity within private equity and is partnering with MLT on this important initiative,” said MLT Founder and CEO John Rice. “The private equity industry provides the potential for substantial wealth generation and exerts significant influence in the business world. This collaboration is an important lever in helping more talented people of color gain access to an industry where they are historically underrepresented.”
“Our team is our most valuable asset,” said Managing Director, Pamela Martin. “We recognize the critical importance of investing in and cultivating diversity. We are excited to partner with MLT and invest in educating and reaching out to under-represented candidates with an interest in pursuing a career in private equity.”
MLT launched its Private Equity Programming initiative in 2019, aimed at helping more minorities and women break into and succeed in the field. Audax Private Equity joins other private equity companies that are MLT supporters and partners, Centerbridge Partners, KKR and BDT & Company.