Editor's Note
Everyone just wants an opportunity. That is what this comes down to right? No one desires a handout but everyone wants to have a chance to be in the game. It is what we have advocated for here at Emerging Manager Monthly since the beginning.
It has now been over a year since CalPERS allocated $1 billion to TPG and GCM Grosvenor to seed diverse managers. While both firms have announced their first commitments out of their respective funds, what they have not announced is any other institution investing in their funds.
If the last 10 years were the “lost decade” for traditional market emerging managers, it is imperative that the next 10 years see steps taken to support and nurture emerging and diverse firms.
With Thanksgiving in the rearview mirror and the holiday season in full swing, I wanted to use this space to reflect on some positives from 2023. To give thanks.
The pie is getting stale. Everyone knows the pie. The big one where only a small sliver is fought over by emerging and diverse managers.
I believe the absurd lawsuit against Fearless Fund alleging that its grant program targeting Black women is discriminatory will ultimately fail.
Emerging and diverse managers are increasingly turning to high-net-worth investors, family offices and foundations and endowments for early allocations.
It is difficult for meaningful change to happen overnight. Most change takes years, if not decades, to truly gain footing and establish roots.
I hope this year’s LGBTQ+ feature reveals the importance of creating inclusive environments within organizations that allow employees to flourish as their true selves.
New York City Retirement Systems newest report details investments with diverse and emerging managers.