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Teams at the largest investment consultant firms continue to lack racial or gender diversity, according to a recent survey.
The plan is looking to invest $30 million in a fund-of-funds investing in diverse-owned or diverse-led private equity funds.
The retirement system has increased its emerging manager program target by $250 million.
Investment management firms owned by Asian American and Pacific Islanders manage less than 1% of U.S. assets, according to a new study from the Association of Asian American Investment Managers and Bella Private Markets.
Pacific Current Group is selling its equity stake in Seizert Capital Partners to the firm’s management team.
California’s Proposition 16 called for an end to the state’s ban on affirmative action and was rejected by voters in the Nov. 3 election. Its failure means no impactful changes on the horizon for state emerging manager programs as well as the broader financial services industry.
The Securities and Exchange Commission should consider transparency as the first step to improving diversity and inclusion in the asset management space, a panel of experts said during a Dec. 1 committee meeting.
