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Many nonprofits have set ambitious goals for allocating more of their portfolios to diverse-owned asset managers in recent years, with many publicizing the efforts and progress as they go along.
The past year may prove to be an inflection point for transparency in the investment management space, though changes remain incremental.
Regulators such as the Securities and Exchange Commission have stalled on diversity-related recommendations due to the amount on their plate and lack of prioritizing such efforts, though industry experts believe adding pressure will lead to additional change.
Private credit firm Maranon Capital has become a signatory to the Institutional Limited Partners Association’s Diversity in Action initiative, the firm announced.
Technology platform DFD Partners and The Center of Innovation for Diversity, Equity and Inclusion in Finance have formed a distribution partnership that will allow three approved asset managers to utilize DFD services at no cost for one year.
Russell Mason, founder of the Investment Management Institute, died on Dec. 20 after a lengthy battle with pancreatic cancer, the organization announced.
Multi-boutique manager platform Spouting Rock Asset Management has acquired Stewart Asset Management, a spokeswoman confirmed, in an e-mail.
The U.S. Senate Committee on Banking, Housing, and Urban Affairs’ Subcommittee on Securities, Insurance and Investment met on Dec. 13 to hold a hearing on “Examining How Capital Markets Serve Diverse Entrepreneurs and Investors.”
The $11.5 billion Public School Teachers’ Pension & Retirement Fund of Chicago invested $5.5 billion, or 48% of total fund assets, with minority-, women- and disadvantaged-owned business enterprise firms in fiscal year 2022.
By Shannon O’Leary, CIO at Saint Paul & Minnesota Foundation
Announcing the finalists in our Emerging Manager Awards.