PURPOSE

Advancing Resilience
An Interview with Maura Pally, Executive Director, Blackstone Charitable Foundation
EDITORS’ NOTE Maura Pally
conversations, I saw a very clear
is the Executive Director of thecommitment from Blackstone’s people
Blackstone Charitable Foundation,
to effect change in their communities.
where she oversees all Blackstone
In 2021, approximately 85 percent
Charitable Foundation activity,of our employees engaged with theleading strategy and execution ofFoundation’s charitable initiatives.
programs in support of Blackstone’s
Second, I was excited by the opporgoal of creating economic opportutunity that the firm’s scale – nearly 250
nity for under-resourced commuportfolio companies – presents. Third,nities. Pally joined the firm from
I’m excited by the alignment of thethe Clinton Foundation, where she
Foundation with the firm’s broader
was most recently Executive Viceentrepreneurial identity through both
Maura PallyPresident. Prior to that, she worked
investments on the business side as
at Bloomberg Philanthropies andwell as their clear focus on the topic
as the Deputy Assistant Secretary at the Bureau through our signature student entrepreneurshipof Educational and Cultural Affairs in the U.S. program, Blackstone LaunchPad. I see many
Department of State. She also served as Deputy opportunities for collaboration and synergy withGeneral Counsel for Hillary Clinton’s 2008 my colleagues from across the firm.
presidential campaign, as manager of Politics
Will you provide an overview of yourand Public Policy at Oxygen Media, and as role and areas of focus?
Special Assistant in the office of the WhiteI oversee all Blackstone Charitable
House Counsel. Pally received her JD from the Foundation activity, supporting Blackstone’s
USC Gould School of Law and a BA in polit- goal of creating economic opportunity forical science and women’s studies from Brown under-resourced communities. Practically,University.
that means ensuring our signature programs –Blackstone LaunchPad, which helps students
FOUNDATION BRIEF Founded in 2007, the build entrepreneurial skills, and BX Connects,
Blackstone Charitable Foundation (blackstone.com/ which connects Blackstone employees withour-impact) creates programs that enhance entre- service opportunities related to generating
preneurial ecosystems. By leveraging the resources Healthy Communities and Skills for Success –and intellectual capital of Blackstone, it deliver on their mandates. By supporting
empowers entrepreneurs, creates an environ- college and career readiness through philanment where careers can flourish, and supports thropic commitments and employee engagethe communities in which it lives and works.
ment opportunities, we are enabling moreyoung people to access education and realWhat excited you about the opportunity to world work experiences that lead to highjoin Blackstone and made you feel it was wage, in-demand jobs. It also means thinking
the right fit?
about how the Foundation can build on theI’d say there were three main factors that achievements of the past 15 years as it looks
attracted me to the firm. First, from my earliest towards its next phase of growth.

What is the history of the Blackstone
Charitable Foundation and how do you
define its mission?
Blackstone created the Foundation in 2007
to lead its philanthropic initiatives under the leadership of Amy Stursberg, whose career includes
serving as director of the September 11th Fundand at the Office of Management and Budget in
New York City. In the wake of the financial crisis,
we wanted to give back and, importantly, support
entrepreneurs. The innovation, skillset, and career
mobility of young entrepreneurs is crucial tobuilding successful companies. Blackstone itself
wouldn’t exist without the entrepreneurial initiative taken by its founders, and continues to invest
in entrepreneurs today.
We also wanted to give our employees anopportunity to give back to their communities
and created the BX Connects program. Over theyears, we’ve partnered with over 100 nonprofit
organizations all over the world.
Will you highlight the programs of theBlackstone Charitable Foundation in its
efforts to create economic opportunity forunder-resourced communities?
Blackstone LaunchPad is the Blackstone
Charitable Foundation’s student entrepreneurship program. LaunchPad empowers students
with entrepreneurial skills to help them succeed
in any career. We partner with community
colleges, four-year colleges and universities
to deliver entrepreneurial resources, a global
network of mentors, and unique convening
opportunities to students.
Over the last decade, we have beenpresent on over 50 campuses. We’ve supported
students at every level of the venture creation
process – whether they’re already raising moneyand building out a workforce, or just have thebeginnings of an idea. Underpinning our work

“In 2021, approximately 85 percent of our employees
engaged with the Foundation’s charitable initiatives.”

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VOLUME 45, NUMBER 4

“By supporting college and career readiness through philanthropic
commitments and employee engagement opportunities, we areenabling more young people to access education and real-world
work experiences that lead to high-wage, in-demand jobs.”
is a commitment to diversity. LaunchPad has
expanded to reach more students, particularly
those who wouldn’t otherwise have had accessto these opportunities. We focus on colleges anduniversities that have a majority diverse population or are serving under-resourced communities, prioritizing narrowing gaps for historicallyunder-resourced and diverse communities.
BX Connects uses the firm’s scale, talent andresources to make grants, develop nonprofit partnerships and create employee engagement opportunities. Partners have ranged from the youth
literacy organization Reading Partners, educationand mentorship organization SEO, and job training
organization YearUp – a small sampling of the organizations BX has partnered with to advance its corepillars: skills for success and healthy communities.
How important are metrics to measure
the impact of the Foundation’s work?
They’re essential. Metrics tell a story about
how well we’re engaging our communities andhow committed our teams are to the firm’sculture of service. We’re being thoughtful as
we shift the LaunchPad program to focus onbuilding entrepreneurial skills for success tomeasuring the impact of our work, not only via
companies formed and jobs created, but also
through entrepreneurial skills attained.
We knew, for example, that we wanted
to adjust LaunchPad so it served students whoneeded access to entrepreneurial programming
the most – and the metrics reflect that shift. In2021, we rolled out expansions to the Universityof Texas system, three HBCUs (HistoricallyBlack Colleges & Universities) in Atlanta, nineschools across the CUNY system in New York,and two Hispanic Serving Institutions in Nevada.
Over the next five years, the program will morethan double, widening its reach from 30 to 75
campuses across the nation.

In 2021, approximately 85 percent of ouremployees engaged with the Foundation’scharitable initiatives. Employees also jump at
the opportunity to nominate nonprofits they
admire through the annual Blackstone Gives
Back Challenge, our employee-driven grantcompetition which awards grants each year towhichever of these nonprofits receives the mostvotes. Through the Gives Back Challenge, wegave out $700,000 in 2021 to employee-selected
nonprofits.
Will you discuss the commitment andengagement of Blackstone’s leadership teamfor the work of the Foundation?
They’re wholeheartedly engaged – a huge
gift, especially considering that Blackstone
leaders are some of the busiest people I’ve
ever encountered. Many of them sit on theFoundation’s Board, and many more of them siton its Leadership Council. Their sharp questions,fresh ideas, and insight into the firm’s priorities have helped make the Foundation what itis today. Most importantly, they are genuinely
committed to giving back and leveraging theresources and talents of the firm for good.
The firm’s leaders set the tone for our junioremployees across the firm in spearheading ourculture of giving back.
Did you always know that you hada passion for this type of work and whatmakes it so special for you?
I have always been driven by opportunities
to serve and give back. I have been incredibly
fortunate throughout my career to be able to dothat in various ways, including from the government side, at the State Department’s Bureau ofEducational and Cultural Affairs, to the nonprofit
program side at the Clinton Foundation, to thephilanthropic side at Bloomberg Philanthropies.
I jumped at this opportunity to work with theincredible team at Blackstone to think creativelyand ambitiously about the firm’s impact on thebroader community. There is both enormous
talent and a deep commitment to giving backacross Blackstone, and the opportunity to help
lead that effort is thrilling.
What ar e your priorities for theBlackstone Charitable Foundation as
you look to the future?
My priority is to use Blackstone’s signature programs to advance resilience among thecommunities that we serve. Part of the reason
we adapted LaunchPad to promote entrepreneurial skills-building for all students – notjust future founders – is because we recognized that the skills it took to innovate andrun a startup made students more resilient andbetter-equipped to meet the demands of anever-changing job market. Over the comingyears, we look forward to narrowing gaps
for historically under-resourced and diverse
communities.
Blackstone Career Pathways was designed
as another initiative in Blackstone’s broader
commitment to creating value through career
mobility and ongoing diversity efforts at
our portfolio companies. Through Career
Pathways, Blackstone helps portfolio companies adopt inclusive workplace practices andexpand applicant pools through partnershipswith organizations such as Year Up and COOPCareers. Our goal is to create value by working
from the ground up to remove legacy barriers
to hiring and increase employment opportunities and career mobility for people fromdiverse and historically under-represented andunder-networked communities. We aim toprovide the tools, training and resources withincompanies that support diverse hiring, retention, and advancement.

•“My priority is to use Blackstone’s signature programs toadvance resilience among the communities that we serve.”

VOLUME 45, NUMBER 4

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