Adams Street Partners LLC is ramping up its summer internship program for college students and recent graduates with diverse backgrounds by hiring its first interns outside of the U.S.
The Chicago-based private equity manager launched its internship program in 2015 to expose diverse sophomores, juniors, seniors and recent graduates to private market investments.
Adams Street is one of 200 money managers, pension funds and consultants that have pledged to address the lack of Black professionals in money management by offering internships to Black college students in the U.K. through the #100blackinterns initiative.
The three U.K. students Adams Street hired will be the first international students to join Adams Street as interns and like their 10 fellow interns in the U.S., will work virtually rather than in the firm's London office beginning in June.
The hope is that the interns will consider a career in private equity, hopefully with Adams Street, said Carolyn Flanagan, partner and global head of human resources, in an interview.
The goal is of the internship program is to take students from "intern to hired," Ms. Flanagan said.
Adams Street managed $44 billion in private equity as of Dec. 31.