Emerging/Diverse Managers
The plan hired two diverse-owned bond managers to complete a search launched earlier this year.
The consultant believes adding diverse-owned firms is not the only way nonprofits can achieve their DEI-related investment goals, and their consultants should assist them to evaluate several different approaches.
About 42% of the university’s asset managers are diverse-owned as of June 30, a slight downtick from the 44% reported in 2021, but up from the 40% reported in 2020.
Since beginning its diversity, equity and inclusion efforts in earnest nearly a decade ago, one investment advisor has made significant progress in having increased diverse manager hires in client portfolios to 45 firms from 10, while also having improved diversity representation in its workforce.
Artificial intelligence could be a boon for emerging or diverse-owned investment managers, though the trend carries some risks, according to the firm.
The pension plan shifted its emerging manager program to a U.S. small-cap equity mandate to increase its chances of achieving excess returns.
The foundation made an undisclosed commitment to a fund-of-funds targeting diverse-owned venture and growth equity managers.
The foundation has added four investments with new diverse managers within its portfolio after adopting an investment strategy with a racial equity lens in the first quarter.
The institution’s diverse-owned investment figures are up in 2022, funding six new investment partners that were owned by women and people of color.
The search follows the addition of a maiden 3%, or $350 million, target to the asset class in March.