Emerging/Diverse Managers
Social justice funds addressing diversity, equity and inclusion are gaining traction with a growing base of institutional investors, leading asset managers to develop and offer solutions that invest in companies and communities that support people of diverse backgrounds.
The first private equity initiative of Ariel Investments will leverage $1.45 billion commitments.
The plan is seeking one or two separate account managers to establish emerging manager programs for real assets and real estate.
The plan narrowed its domestic small-cap value equity search to three finalists and concluded its diverse fund-of-funds search.
The departure has led to at least one client placing the firm on watch.
The plan expects to approve a recommendation in the third quarter.
The search will target multiple managers to each handle a maximum of $600 million.
The commitment represents a new relationship for the plan.
The plan hired a new domestic small-cap equity manager at its board meeting this month.
The will issue an RFP targeting smaller core fixed-income managers tomorrow.