Attucks Asset Management’s acquisition of Capital Prospects goes well beyond a transaction that creates a combined manager-of-managers firm with more than $3 billion in assets—it is a melding of like-minded cultures, Attucks CEO Les Bond and Capital Prospects Principal Marilyn Freeman told EMM, in an exclusive interview.

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Industry response to the Attucks Asset Management and Capital Prospects deal has been overwhelmingly positive.

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Recent cyberattacks on several institutions have made the issue of cybersecurity more real for institutional allocators and investment managers.
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Despite recent efforts to create opportunities for women-, minority- and veteran-owned businesses, New Jersey remains “the most racist state in the country,” State Sen. Ronald Rice (D-Essex) said, at the New Jersey Joint Committee on Economic Justice and Equal Employment Opportunity’s Nov. 12 hearing.

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New Jersey congresswoman has asked Princeton University and its investment management arm, Princeton University Investment Company, for further details on the women- and minority-owned investment management space and its efforts to include diverse managers within its approximately $26 billion endowment.

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The SEC proposed major changes to the Advertising Rule and the Cash Solicitation Rule on Nov. 4. I would recommend at least glancing through the 505-page release, which includes much more detail.

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After years of research, OCIE exam findings and roundtable discussions, the SEC has issued guidance on proxy voting in the form of a Question and Response (Q&R). You can find the Q&R guidance here.

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Rondure Global Advisors has been making the rounds for its emerging markets and international equity strategies to steady success.

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Wells Fargo is making a dedicated push for diversity within its platform of investment managers by targeting the addition of eight new diverse-owned firms in 2020.

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The $134.7 billion Washington State Investment Board has named Allyson Tucker as its new cio, effective Jan. 1, the plan announced.

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John Teramana joined Verus as a senior consultant on Dec. 3, Director of Marketing Margie Lane said, in an e-mail.

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Sheryl Mejia resigned as director of emerging managers for the $210.2 billion New York State Common Retirement Fund yesterday, she confirmed.
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Investment consulting firm NEPC has adopted a new diverse investment manager policy that aims to bring a data-driven approach to its engagement with women- and minority-owned managers.
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A lot has changed for AndCo Consulting over the past 10 years, but its commitment to providing independent, conflict-free investment consulting to institutional investors has never wavered, according to President and CEO Mike Welker.
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Commonfund has launched an online portal specifically to receive due diligence materials from women and minority managers investing in equities, fixed-income and credit, real estate and hedge funds.
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Mercer has published its first paper looking at how diversity impacts investment strategy.

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Foundations and endowments need to eliminate biases in their governance and investment processes to unlock more opportunities for women and minority investment managers, according to panelists in the Closing The Gap Between Intention and Action: Identifying the Barriers in Investment Manager Diversity session at the Council on Foundations’ 2019 Endowments and Finance Summit, held Sept. 19-20 in Washington D.C.

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Making the trek across the pond to the U.S. has proven to be an enlightening experience for Dundas Global Investors.
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A private equity placement firm with a focus on emerging managers launched last month.

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The $8.4 billion Alameda County (Calif.) Employees’ Retirement Association has increased its targeted emerging manager exposure to up to 5% of total plan assets and expanded access into alternatives strategies, Spokeswoman Agnes Ducanes confirmed, in an e-mail.

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The Texas Permanent School Fund’s committee on school finance directed investment staff and general investment consultant NEPC to develop an outline for a potential emerging manager program at its Sept. 12 meeting, according to a webcast.
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British Columbia Investment Management Corporation (BCI) has issued an RFP seeking a firm to deliver unconscious bias training for approximately 500 employees to help support the organization’s diversity and inclusion strategy.

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Jeffrey Barnette has resigned as cio of the $8.5 billion District of Columbia Retirement Board.
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On Aug. 21, the SEC released, “Commission Guidance Regarding Proxy Voting Responsibilities of Investment Advisers.” This is the first time, in my memory, that the SEC has provided this much clarification on this issue.
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