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DUMAC, the investment management arm of Duke University, increased the diversity of its $12.6 billion endowment by almost 4% between 2020 and 2021.
Investment consultant NEPC continues to see improvement in the diversity, equity and inclusion space for its clients as approximately 59% used diverse managers in their portfolios in 2021.
Cambridge Associates increased the number of diverse manager relationships in client portfolios as well as the percentage of assets invested with diverse managers in 2021.
Expanding and developing the pool of diverse talent in the asset management space is a task requiring an intentional and sustained effort. From large firms to trade organizations to plan sponsors and entities in between, initiatives and efforts are being made to advance progress in this area, and investment managers, consultants and allocators cannot afford to drag their feet when it comes to developing a meaningful embrace of diversity, equity and inclusion and solutions toward bridging the gap.
Many nonprofit investors striving to allocate more assets to diverse-owned managers want to immediately start working toward concrete outcomes, however, the investors should first focus on definitions and policy.
A new bill has been introduced that would aim to increase diversity in the asset management sector.
Evelysse Vargas has joined Zeal Capital Partners as a senior consultant, the venture capital firm announced.
Base10 Partners has closed a new $460 million early-stage fund, bringing the Black-led venture capital firm’s total assets under management beyond $1 billion, the firm announced.
