Indiana University will use a $4.8 million gift from a private equity firm to create a global business institute focused on Latin America.
The Institute for Global Organizational Effectiveness in Bloomington will hand out two-year, $50,000 fellowships to MBA and doctoral students to engage in consulting and research projects with Latin America companies. Also, IU hopes the institute can serve as a hub for its MBA alumni working in Latin America.
The money to launch the institute comes from the GEO Global Foundation, an arm of New York-based GEO Capital Holdings LLC, which operates a private equity fund that focuses on Latin America. The investment firm’s CEO, Ariel Aisiks, will chair the institute’s advisory board.
“The institute will be a means of building bridges between Latin America and other economies around the world,” Aisiks said in a prepared statement.
The institute will be directed by Herman Aguinis, a native of Argentina and a professor in IU’s Kelley School of Business.
"The vision is that Kelley will be the business research and education provider of choice for Latin America 10 to 15 years from now,” Aguinis said in a statement.
The institute will fund as many as eight MBA students each year and one doctoral student every year or two. IU is helping to fund the institute with $10,000 a year.
The donation is the largest single gift to the Kelley School from somebody who is not an IU alumnus.