The Pershing Square Foundation launches Oxford MBA scholarship programme at the University of Oxford
PUBLISHED: 16:39 23 September 2013 | UPDATED: 17:08 23 September 2013
The Pershing Square Foundation (PSF) has launched the Oxford Pershing Square Graduate Scholars Programme in New York City. The Programme will help extraordinary individuals develop and realise their potential to become global leaders and to address world-scale challenges for the benefit of society.
The foundation, based in New York, was founded in December 2006 by Karen and Bill Ackman. Bill is the CEO and Portfolio Manager of Pershing Square Capital Management, L.P. Speaking of the scholarship, he said, “The Pershing Square Foundation is committed to supporting innovative global leaders who can deliver scalable and sustainable impact while tackling important social issues. The Oxford Pershing Square Graduate Scholars Programme will support the world’s future leaders so they can create positive change around the world.”
Pershing Square Foundation committed $215 million in grants and social investments to support exceptional leaders and innovative organisations that tackle important social issues and deliver scalable and sustainable impact. It endows up to five fully funded Scholarships each year for the MBA component of the Oxford 1+1 Programme, which allows students to pair the one-year Oxford MBA with a second specialist one-year Oxford master’s programme from a selection.
“This unique programme will redefine business education and prepare students for successful careers that address issues that will challenge us far into the future. Our hope is that, over time, the Pershing Square Scholars will grow into a powerful community, supporting each other to bring about lasting social change through business,” said Professor Peter Tufano, Dean of Oxford’s Saїd Business School.
The selection process will identify candidates who are able to demonstrate, in part through experience, an aptitude and commitment to addressing global challenges in diverse and innovative ways.
The Pershing Square Foundation has made a gift of £4.5 million to endow the Scholarships in perpetuity. The University of Oxford has provided a further £3 million under the Oxford Graduate Scholarship Matched Fund, taking the total Scholarship funding to £7.5 million.
The first five Oxford Pershing Square Scholars will join the 1+1 MBA programme in Autumn, 2014.