WASHINGTON, Dec. 7, 2020 /PRNewswire/ -- To help support early-career women interested in exploring careers in alternative investments, the National Association of Investment Companies (NAIC) and the Toigo Foundation (Toigo) today announced a partnership to launch the NAIC Paradigm Changers Undergraduate and Graduate Internship Program, which includes education, career development programming, mentoring, and internships targeting undergraduate and graduate women with the potential to lead in the field of private equity.
The internship and mentorship components of the program will be critical components of NAIC's Women in Alternative Investments Initiative (WIAI), an effort to support and increase the number of women entering the private equity and hedge fund sectors, with a particular focus on women of color.
Toigo will be an integral partner in collaborating with NAIC in the design of the curriculum for each program – building on its long-standing work in industry and leadership development training, and more specifically, as an extension of its Groundbreakers Women in Leadership platform. Toigo and NAIC will collaborate on the development of curriculum and share branding and cross-marketing opportunities, with Toigo managing the application process of prospective candidates for the Undergraduate and Graduate Internship program. The partnership brings to the marketplace formalized curricula and training that have been thoughtfully curated to accelerate junior women's careers in private equity, leveraging the respective organizations' extensive coaching capabilities, knowledge capital, and networks.
"Toigo views the partnership with NAIC as an important next step in our agenda and programming to support the advancement of women in alternatives. It's an excellent way to leverage our established success in student selection and leadership programming to advance the goals of the Paradigm Changers program. It is our collective responsibility to have some impact on the next generation of leaders for our industry," said Nancy Sims, Toigo Foundation President and CEO.
"NAIC is delighted to have this opportunity to partner with the Toigo Foundation to increase the number of women – and diverse women in particular – in the alternative investment industry," said Carmen Ortiz-McGhee, Executive Vice President of the National Association of Investment Companies. "Our collective and complementary strengths are superbly poised to drive measurable progress towards further diversifying the face of this important market segment."
With the support of Founding Sponsors TPG and IMB Partners, the internship and mentorship programs will target women across a broad range of nontraditional academic disciplines, including business, law, healthcare, technology and engineering, among others. To enhance and increase the number of women entering the industry, NAIC will develop and structure a general internship framework for participating NAIC and American Investment Council (AIC) member firms to adopt, ensuring that program participants have enriching and right-sized summer internship experiences. Applications for the Undergraduate and Graduate Internship programs will be launched in early January 2021, with the inaugural classes kicking off programming in Summer 2021.
About TOIGO: Toigo's mission is to transform the performance of forward-thinking organizations through education and strategies that drive greater inclusion and the ongoing development and promotion of exceptional diverse leaders. Our work is about both the institution and the individual—on building stronger, more diverse organizations through the inclusion and advancement of under-represented talent. Over 30 years ago, we started—and have stayed—in finance because we know if we can have a direct impact where capital decisions are made, we can make a difference.
About NAIC: Celebrating 50 years of advocacy and performance, the Washington, D.C.-based National Association of Investment Companies is the industry association for and largest network of diverse- and women-owned private equity firms and hedge funds. NAIC's membership is comprised of more than 115 firms that collectively manage over $185 billion in institutional assets.
National Association of Investment Companies
SOURCE National Association of Investment Companies