The brainchild of business school roommates, Harlem Capital Partners was formed with the goal to invest in 1,000 diverse founders over the next 20 years. With its first fund closed and deploying capital with diverse-owned startups, NAIC’s Member Focus highlights the journey of HCP founders Henri Pierre-Jacques and Jarrid Tingle through Harvard Business School, their tenure at NAIC member firm ICV Partners, and their first investments after launching the early-stage venture capital firm.
In 2007, Runa Alam was already an experienced Pan-African investor, having overseen very successful funds focused on the continent as CEO of Kingdom Zephyr Asset Management. But she, and Miles Morland – Co-founder of DPI and an investor in Africa since 1990 – felt there was room in the market for a best-in-class private equity manager to focus on African companies that stand to benefit from the fast-growing middle class. Some 12 years later she is one of the very few women of color overseeing over $1 billion in assets.
A growing trend among pension plans is to shift investment strategies towards in-house management and passive index investing, which can have a significant negative impact on assets allocated with diverse-owned investment management firms. However, NAIC member firm Matarin Capital Management is staying ahead of the curve by adopting innovative new products designed to address the concerns of pension plans while delivering index-beating performance and maintaining diversity initiatives. This article outlines how they are doing it.
Adrian Mendoza and Senofer Mendoza helm one of the nation's very few Hispanic-owned venture capital firms. As the heads of Boston-based NAIC member firm Mendoza Ventures, the husband and wife team execute the firm's strategy of investing in startups in artificial intelligence, fintech, and cybersecurity. Here is how the firm came to be, what they like about these sectors and how they're fueling leading-edge high-tech firms with smart capital.
A recent addition to the NAIC membership, Laurel Oaks Capital Partners is in the process of completing its first two acquisitions – a transportation and logistics business and a freight brokerage company – that will form the foundation of its investment strategy. Led by Rena Clark and Emanuel Slater, Laurel Oaks is an independent sponsor that looks to acquire controlling interests in operating companies in the industrial lower middle market sector. In this report, we take a look at this young firm, its investment strategy and what the team likes so much about transportation and logistics.
Dynamk Capital, a venture and growth equity fund based in New York City that focuses on opportunities in biotech and life sciences, is carving out its own space in the biopharmaceuticals industry. In this NAIC report, we chronicle the history of the firm, provide insight into its investment strategy and how leadership looks to generate returns by funding innovation on the leading edge of stem cell research and regenerative medicine.
To say getting through the gate-keepers for institutional investors is challenging is often a colossal understatement regardless of how well a diverse fund manager's performance may be. However, there are positive signs that some consultancies are starting to understand that performance knows no color and their clients are missing out by overlooking diverse-owned firms. In this special report, NAIC takes a look at this trend and what needs to occur to ensure the trend becomes a sustained movement.
Several years back, a long-standing client made an inquiry to Colonial Consulting, “why don’t we have more investment manager diversity?” This simple question turned into an eye-opening exercise that following a period of introspection, led the firm to rethink how to properly address the issue of diversity. In this NAIC report, we’ll chronicle the steps the firm took that resulted in significantly greater representation by diverse-owned firms in their clients’ portfolios.
Historically Black Colleges and Universities have been a cornerstone for African American higher education since the 1800s. Recognizing the value and need for these storied institutions, several NAIC members have put in their time and financial support towards ensuring that future generations have the opportunity to experience the best of what HBCUs have to offer. NAIC takes a look at the efforts by Robert F. Smith, Patricia Miller Zollar, José E. Feliciano, Willie E. Woods, JoAnn Price and Verdun S. Perry towards keeping these universities thriving in an increasingly competitive collegiate landscape.
Phoenix IP Ventures (PIPV) is an NAIC member based in Philadelphia that acquires well-known medicines that are off-patent or lack the broad-based appeal for multinational pharmaceutical companies and uncovers the hidden value within these products. Here we take a look at their strategy and highlight one of their home run deals.
Kirk Sims was tapped earlier this year to head the $5.7 billion Emerging Managers Program of the Teacher Retirement System of Texas. Sims, who formerly spearheaded the $750 million Emerging Manager Program for Teachers’ Retirement System of Illinois, will directly oversee the deployment of $3 billion in capital to emerging managers over the next 3-5 years under Texas TRS' Emerging Manager 3.0 Program. In this Q&A, Sims discusses his responsibilities, the fund's goals and how diverse and emerging managers fit into those objectives.
Based in Rio de Janeiro, DXA Investments sees great opportunities in Latin American small and medium-sized enterprises, which are often overlooked by larger international funds. In this installment of Member Focus, we take a look at DXA and how the firm’s strategy paid off with its first exit – to the tune of a 12.4X return on invested capital.
Acquiring Representations and Warranties Insurance is an often-overlooked strategic tool in the M&A toolbox, but one that can potentially benefit both those on the buy and sell side of a deal.
Diverse managers who have succeeded at world-renowned firms have done so by consistently delivering superior returns over many years in both good and bad economic environments. After building reputations as skillful investors, a growing number of these professionals are using their stellar performance records and gold-plated resumes to establish or join boutique shops, and are outperforming the competition along the way.
While the Federal government has made some strides with its supply chain diversity efforts, one area remains woefully homogeneous – financial services. However, efforts to diversify the US government’s investment manager base is gaining momentum with the help of trade associations, high-ranking politicians and industry professionals.
The financial services industry in general–and asset management in particular–has long held one of the worst track records when it comes to diversity and inclusion. This may change, however, due to the Diverse Asset Managers Initiative (DAMI), an effort aimed at increasing the number of assets managed by diverse-owned firms, particularly within corporate funds, faith-based funds, labor union pension funds, and foundation and university endowments.
Despite the superior returns generated by many diverse-managed funds, investments by the financial services industry remains remarkably homogeneous. This takes a look at the causes and potential solutions to this serious issue.