Emerging/Diverse Managers
Plan will issue an RFP seeking diverse-owned private equity managers to handle up to $50 million.
The signatories have a combined total of $4 trillion in assets under advisement and $2.5 trillion in assets under management.
Investors need more education or policy frameworks to implement this approach, according to the firm.
The foundation has issued an open-invitation RFI after finding a “disappointing lack of diversity” in its initial research into firms.
A university in the Midwest is looking to increase its investments with diverse-owned managers and ESG strategies.
Two foundations have committed to a strategy that invests in funds and direct co-investments backed by diverse and women-owned venture capital and private equity firms to advance greater diversity, equity and inclusion in the financial markets.
Historically black colleges and universities, typically limited by the size of their assets, are looking to gain further access to alternative assets, particularly private equity and venture capital, as they seek to grow their endowments to further their mission as well as capture outsized returns that have swelled higher education institutions’ portfolios, according to investors and allocators.
The plan committed to SoLa Impact’s Black Impact Fund.
Plan staff and the general consultant expect to provide educations on private debt and infrastructure in the second half of the year.
The plan was informed of the termination of an international developed equity manager within its program today.
