It’s a known fact that investment firms owned and run by women and people of color manage only a small proportion of institutional assets under management (AUM). Investing with these diverse managers provides access to unique investment opportunities that otherwise may be overlooked. While many asset owners want to prioritize justice, equity, diversity, and inclusion when looking at investment opportunities, few of them have sufficient investment staff to conduct due diligence on emerging diverse managers.
The Impact Finance Center is raising funds to create a shared-ownership, due diligence database of emerging diverse managers in all asset classes. This sorely needed infrastructure will help to increase allocations to diverse managers and help move them from emerging to established while building capabilities and capacity.
To help reach that goal, George Suttles, executive director of Commonfund Institute, will lead a new steering committee of asset owners, who altogether control more than $25 billion in assets under management. George also serves as a member of the Commonfund Diversity, Equity, and Inclusion Office. IFC also partnered with BII to host a series of webinars that feature emerging fund managers of color and connect them with investors.
“I am excited to join forces with IFC to bring together innovative programming showcasing diverse emerging managers who are using integrated capital to build community wealth and power,” said BII CEO Betty Francisco.