Emerging/Diverse Managers
Study on the diversity of higher education’s asset managers found just 18 institutions fully participated by providing data for the study, while an additional eight self-reported their data.
The two emerging managers-of-managers were first hired in 2020.
Private equity and venture capital firms that have predominantly women or people of color in ownership can provide another source of diversification and unlock access to differentiated deal flow for their limited partners and other investors, according to new research.
The pension plan first issued an RFP seeking one or two separate account managers to establish emerging manager programs for real assets and real estate in January 2023.
Despite a rise in female-led firms within private equity and venture capital last year, women remain significantly underrepresented in the space and Women’s History Month offers even more reason to celebrate their successes while additionally providing access to talented, under-the-radar females in today’s challenged market.
The foundation is looking to add diverse-owned managers, of which currently has four, to its portfolio along with regionally focused investments.
Historically Black colleges and universities have had to operate without the support and resources made available to their peers traditionally, yet they have persisted in fostering their students and communities.
The institutions are facing new and increased pressure to leverage their endowment investments to ensure continued independence and long-term sustainability, something that is proving to be difficult as HBCU investment returns have lagged their non-HBCU peers for the past three years due to smaller allocations to alternatives and significantly fewer investment management resources, among other factors.
The pension plan made opportunistic real estate and buyout commitments totaling $275.5 million in January.
Three large foundations have committed to a women- and BIPOC-led private investment manager’s second private equity fund, which held its final close.
The institution is seeking emerging stock managers as it looks to host a roundtable event in late March or April.
