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.
What started out as two endowments tracking women and minority investment managers in an Excel spreadsheet has transformed into a consortium of more than 600 asset owners coming together and partnering with a fintech platform to increase investments with hundreds of diverse managers.
The Smithsonian Institution is in the process of gathering diversity statistics from its external investment managers within its $2.3 billion endowment and will publicly release the data in the future.
Cambridge Associates met its goal of doubling the percentage of its investments with diverse managers to 10% from 5% by the end of 2025 and has established a new target to increase assets held by diverse managers to 15% by 2025.
The Milken Institute launched its Historically Black Colleges and Universities Strategic Initiative and Fellowship Program on Feb. 17.
