Juneteenth
Institutions contemplating how to incorporate more diversity into their investment portfolios need to think beyond the efforts as “nice to have” and focus on the diversification benefits an expanded stable of managers can provide, according to Chavon Sutton, director of manager diversity and inclusion and emerging manager strategy for the New York City Comptroller Office’s Bureau of Asset Management.
The five private equity funds-of-funds will identify growth equity investment firms to invest 100% of capital to diverse- and women-owned businesses.
Robert Raben is the executive director of the Diverse Asset Managers Initiative and the founder and president of The Raben Group. More information on DAMI can be found on the organization’s website.
The State Universities Retirement System of Illinois will host its second annual diverse manager week initiative beginning on Aug. 3.
Minority-owned private equity fund-of-funds manager Fairview Capital Partners received a $5 million commitment from a local pension fund this week.
Minority-owned private equity firm Stellex Capital Management has received five commitments totaling $270 million in recent months, according to fin|daily reports.
More than $4.5 billion was allocated to emerging managers by public defined benefit plans over the past year, according to FIN Searches data.
As racism and equality continue to represent a pivotal social issue, how allocators can work to eliminate unconscious biases is an important component to creating diversity and inclusion in the investment world.
Disrupting policies and practices in the capital markets to improve access, opportunity and prosperity is vital to empowering Black communities—and it’s a challenge that Erika Seth Davies is looking to take head-on.
