Of the 71 leadership positions at the city's 10 largest private equity firms, all but three are held by men. Unsurprisingly, that ratio is similar for most of the smaller ones. The private-equity industry controls about $4.6T in assets, and its top managers make most of the investment decisions and reap most of the rewards, which can add up to millions of dollars in service fees and profits per manager, Crain's reports. Many women in the industry say that the gender gap is tough to bridge because fewer women than men are building the professional credentials needed to climb into top leadership positions,which typically include an MBA from a top business school. Kim Vender Moffat, a principal at Sterling Partners, said it will take "a community effort" to change the trend. [Crain's]
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