The investment returns of historically Black college and university endowments have lagged their non-HBCU peers for the past three years and a new study finds this may be due to HBCUs having smaller allocations to alternatives, less risk tolerance and significantly fewer investment management resources.
Ten of the largest nonprofit hospital corporations in the U.S. have been asked to release investment diversity information by three organizations.
Stanford Management Company, the investment management arm of Stanford University, has declined to disclose the results of its Diverse Manager Initiative launched in the first quarter of 2022 to invest in diverse-led investment managers.
The University of California’s allocation to diverse-owned partners across its $18 billion endowment and $80 billion pension increased by approximately 10% to $21.4 billion of its actively managed assets, according to its 2022 Diversified Returns report.
The nonprofit sector is the third largest employer in the U.S. and is looking to cultivate more inclusivity amongst its ranks at a time when more than two thirds of public and private foundations, 68%, consider diversity, equity and inclusion a priority for their organizations, according to CAPTRUST Financial Advisors.
Diverse investment manager representation within Georgetown University’s approximately $3.3 billion endowment ticked up in 2023 but remains relatively static year-over-year despite the addition of five new U.S.-based managers and the elimination of two other firms, according to a new report.
The Smithsonian Institution has released its Diversity, Equity and Inclusion Report, disclosing that it has nearly 40% of its domestic assets under management invested with minority- and women-owned investment managers.
The approximately $25 billion Massachusetts Institute of Technology Investment Management Company has been named as having the “Best Emerging Manager Program” based on a survey of global fintech platform Clade’s institutional clients.
U.S. Representative Emanuel Cleaver (D-Mo.) and Senator Cory Booker (D-N.J.) have reintroduced a bill to help ensure colleges and universities are providing opportunities to women and minority asset managers, according to an announcement.
Launching an asset management firm amid the global financial crisis with banks shuttering and hedge funds liquidating is far from how most would draw up their foray into starting their own firm.
This month, we have our annual feature on military veterans in the asset management industry.