AUSTIN, Texas–(BUSINESS WIRE)–Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-driven companies, today announced the expansion of the program company internships to provide new opportunities for second-year students. The new program, designed in partnership with the Knowledge Is Power Program (“KIPP”), a network of college-preparatory public charter schools, and the Posse Foundation (“Posse”), a leading organization for academic success and youth leadership development, advances Vista’s efforts to broaden its recruiting pipeline while creating career paths for young people from backgrounds not traditionally represented in asset management.
Internships are essential for early professional development and can be a determining factor in a young professional’s professional success. Fifty-three percent of college graduates secure full-time positions through internships or internship contacts.1 Yet the traditional private equity recruiting model — which prioritizes applicants at the associate level — limits opportunities for students.
Vista identified KIPP and Posse as leaders in supporting students from underrepresented backgrounds and created the Rising Sophomore Program, a six-week paid internship program at Vista offices focused on building skills and networks professionals. The experience includes a capstone project, engagements with Vista management, hands-on training, professional development and networking opportunities that can lead to career opportunities in asset management. To eliminate additional financial barriers, travel and accommodation costs are covered by Vista, allowing students from across the country to participate.
“Our internship programs allow us to provide broader access to the asset management industry to minorities, schools and underrepresented communities,” said David Breach, President and COO of Vista. “The program we’ve established in partnership with KIPP and Posse expands the efforts already in place across the company and gives the next generation of investors the tools and experiences to set them up for success.”
“I am thrilled to continue our internship partnership with Vista Equity Partners,” said Tevera Stith, Vice President, Alumni Impact of the KIPP Foundation. “This internship program will give KIPP alumni the opportunity to become leaders in the private equity space and help create an access pipeline for future generations.”
The Rising Sophomore program complements Vista’s existing internship programs, creating a holistic college-to-career pipeline for students. Vista’s partnership with Girls Who Invest focuses on providing opportunities for female students who are rising juniors; Vista’s Frontier Fellows program invests in students entering their final year of college from backgrounds not traditionally represented in private equity; and the firm annually hosts a class of summer analysts recruited through a pipeline supported by academic institutions and nonprofit partnerships. Through its group internship program, the firm has hired 18 full-time investment team members, 83% of whom are women or people of color, and from its class of 2022, 8 of the 12 interns will return the next year as full-time employees.
“The social capital gained through early college internship experiences is critical in creating new pathways to opportunity, giving underrepresented students a chance to engage and create their own pathways to success,” added Khalida Ali. , Director, Diversity & Inclusion at Vista. “We value the contributions and ideas of our interns and empower them to challenge the status quo, seize the opportunities presented to them, and expand their vision of what is possible. Passing these ideals on to our interns who are just beginning their professional journey is what sets Vista apart. We build, grow and innovate together.
About Vista Equity Partners
Vista is a leading global investment company with $96 billion in assets under management as of March 31, 2022. The company invests exclusively in enterprise software, data and technology-based organizations through strategies private equity, permanent capital, credit and private equity, bringing an approach that prioritizes the creation of sustainable market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are built on a strong long-term capital base, experience in structuring technology-driven transactions, and proven, flexible management techniques that promote sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community, and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners and on Twitter, @Vista_Equity.
KIPP, the Knowledge Is Power program, is a national network of 280 public charter schools dedicated to preparing students from educationally underserved communities for success in college and in life. KIPP schools are part of the free public school system and enrollment is open to all students. Launched in 1994 as a middle school program, KIPP has since expanded to enroll more than 120,000 students in all grades, from kindergarten through high school. Nationally, KIPP students earn their bachelor’s degrees at rates three to four times higher than the average student in low-income communities.
About the Posse Foundation
Posse started in 1989, inspired by a student who said, “I would never have dropped out of college if I had had my Posse with me. Posse recruits students as high school seniors, works with them through an eight-month pre-college training program, supports them through four years of college, and helps them secure competitive internships and leadership jobs.
Posse Scholars represent the diversity of the cities from which they are recruited and the majority are first-generation students. To be considered for the award, students must first be nominated by their high school or community organization. Applicants then participate in Posse’s dynamic assessment process, an innovative and non-traditional method of assessing leadership and academic potential.
Posse partners with 64 highly selective colleges and recruits dynamic students from more than 20 cities across the United States. To date, more than 10,000 students have won over $1.8 billion in scholarships from Posse partner colleges and universities. More importantly, Scholars graduate at a rate of 90%, a rate that far exceeds the national average and equals or exceeds the average graduation rates at most selective colleges in the United States.
1 NACE: The positive implications of internships on early career outcomes