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 underrepresented 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.
About Management Leadership for Tomorrow
MLT is a nonprofit organization that is changing the face of leadership in the private and social sectors. MLT is fundamentally transforming the talent pipelines at its partner organizations, including more than 150 leading corporations, nonprofits and graduate business schools. MLT’s Rising Leaders— 7,000 and growing—are propelling change across organizations, communities, and our country.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 800 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, please visit the Audax Group website www.audaxgroup.com.