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WASHINGTON, April 3, 2020 – The National Association of Investment Companies (NAIC), the largest network of diverse-owned private equity firms and hedge funds, today welcomes Global Endowment Management, LP (GEM), a full-service outsourced investment office, to the NAIC network. Through this new relationship, Global Endowment Management gains greater access to NAIC’s growing network of high-performing diverse investment managers, and NAIC member firms will have the potential to diversify their capital bases with a leading foundation-focused allocator. NAIC will serve as the conduit to increase engagement between its member firms and Global Endowment Management, which oversees an investment portfolio valued at over $10 billion. “Diversity, in all of its forms, enhances results for any firm serving clients with equally diverse needs,” says J. Porter Durham, Jr., Managing Partner for Global Endowment Management. “We are very pleased to be partnering with NAIC to make the promise of diversity within the investment industry
WASHINGTON (March 30, 2020) – Diverse-owned private equity firms continue to outperform their benchmarks, according to Examining the Returns 2019: The Financial Returns of Diverse Private Equity Firms, a study released today by the National Association of Investment Companies (NAIC). Despite delivering consistent returns, diverse- and women-owned firms collectively manage only 1.3 percent of the investment industry’s $69 trillion in assets under management. Authored by Meredith Jones, Partner, Head of Emerging Manager Research for Aon Hewitt Investment Consulting, Inc., a leading global professional services firm, and compiled with assistance from KPMG to ensure objectivity and the confidentiality of all individual firm data, the report’s findings are a testament to the skill of diverse managers in sourcing deals and executing their investment strategies. This report is the industry’s only quantitative study measuring the performance of diverse-owned private equity firms. Examining the Returns 2019 updates and confirms the outcomes of its predecessor
WASHINGTON (December 16, 2019) – The National Association of Investment Companies (NAIC), the largest network of diverse-owned private equity firms and hedge funds, and Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, announced a partnership that will provide diverse-owned private equity firms access to advisory services that will help them better mitigate risk and reduce transaction costs. “We are excited to work closely with Aon to expand access to industry-leading M&A insurance and capital management products and advisory services,” said Robert L. Greene, President and CEO of the NAIC. “Aon’s unique insights and services will undoubtedly lead to even greater value and lower transaction risk for our member firms and their portfolio companies.” NAIC member firms are expected to increasingly pursue innovative and complex transactions as the private equity industry expands and evolves. Aon’s insights, data & analytics capabilities, and
In an effort to enhance the diversity practices within the State of New Jersey’s public retirement plans, Robert L. Greene, President & Chief Executive Officer of the National Association of Investment Companies (NAIC), provided testimony at a hearing for the Joint Committee on Economic Justice and Equal Employment Opportunity on November 12th in Trenton. The objective of the hearing, called by Democratic state Senator Ronald Rice and Assemblyman Benjie E. Wimberly was to better understand what steps the state could take to increase its diverse manager pool and what options were available. Greene’s statement to the committee focused on how the state could increase its exposure with high-performing diverse investment management firms. Other testimony came from Hester Agudosi, Chief Diversity Officer, New Jersey Office of Diversity and Inclusion; and John Harmon, Founder, President, and CEO of the African American Chamber of Commerce of New Jersey. While public pension plans in
WASHINGTON, October 4, 2019 – The Minority Business Development Agency (MBDA) of the U.S. Department of Commerce and the National Association of Investment Companies (NAIC), the largest network of diverse-owned private equity firms and hedge funds, announced today that MBDA has awarded NAIC a $1.4 million grant to support a project that will facilitate the aggregation and deployment of approximately $1 billion in growth capital into minority-owned businesses. Access to capital remains the most important factor limiting the ability of many of the nation’s 11 million minority- and women-owned business enterprises (MWBEs) to increase in scale. The $1.4 milliongrant demonstrates both a recognition of the obstacles faced by minority asset managers and a prioritization towards addressing the many challenges faced by MWBEs. Through this landmark MBDA grant, NAIC will launch the Minority Growth Equity Funds Initiative, which aims to increase the amount of capital available for MWBEs poised for growth.
To support the growing number of new initiatives and programs brought about by a substantial increase in membership, NAIC is proud to announce today that we are expanding our team with the addition of David Smith, who joins the association as Programs and Initiatives Manager effective August 26th. In this multifaceted role, Smith will manage several of NAIC’s strategic programs designed to support members, broaden public awareness of the superior performance diverse-owned investment management firms deliver, support and strengthen industry partnerships, and cultivate relationships with existing and potential new member firms. A key member of the NAIC staff, Smith will be directly involved in: Executing and enhancing current NAIC programs Identifying the needs of and supporting partner organizations to bolster alliances and increase high-level engagement Collaborating with the marketing and communications team to enhance the NAIC brand nationally and internationally Developing key industry insights to further sharpen NAIC’s ability to
WASHINGTON, July 17, 2019 – The National Association of Investment Companies (NAIC), the largest network of diverse-owned private equity firms and hedge funds, announced today that it has formed a multi-year partnership with William Blair, a premier global boutique with expertise in investment banking, investment management, and private wealth management. One of the leading advisors for diverse asset managers, William Blair has led nearly $30 billion in buy/sell transactions with these firms. The partnership will enhance the scope of William Blair’s participation with diverse-owned firms and capital allocators that have identified diversity as a key priority for their business, and enhance relationships with institutional investors that see diversity as a critical element of success. In addition, the partnership aspires to support William Blair’s ongoing recruitment and retention of greater numbers of top-tier diverse professionals at the global firm. It will also provide the NAIC with significant resources to expand programs
WASHINGTON, April 26, 2019 – The National Association of Investment Companies (NAIC) today announced the launch of Establishing the Next Generation of Private Equity Firms, an immersive symposiumthat provides participants with a 360-degree view of what is required to start a new private equity firm and the process of raising capital. Made possible through a grant from the Minority Business Development Agency (MBDA), the sessions are designed to provide participants with a working guidebook on how to launch, manage and grow a successful private equity firm. In the inaugural seminar, hosted by Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C., accomplished industry veterans will share their depth of experiences and first-hand knowledge of the steps, processes, and considerations critical to launching a new firm and what it takes to successfully raise capital. The program will begin with Henry Childs II, National Director of the MBDA, providing opening remarks. The comprehensive
WASHINGTON, January 14, 2019 – The National Association of Investment Companies (NAIC) today commended the Diverse Asset Managers Initiative (DAMI) on publishing its first annual Investment Consultant Survey. The survey provides great insight into the underrepresentation of women and racial or ethnic minorities at some of the largest investment management consulting firms in the United States and how it contributes to extremely low engagement of diverse asset managers by many retirement plans. One of the Investment Consultant Survey’s key findings was that African American and Latino managers are the least represented at these firms (with the exception of American Indians who are not represented in any capacity), with each demographic finishing last in representation at four of the 11 firms surveyed. Women are also severely underrepresented: their ownership status in these ICs is for the most part in the single digits, and never more than in the 20 percent range
WASHINGTON, January 2, 2019 – The National Association of Investment Companies (NAIC) announced today that Carmen Ortiz-McGhee has joined the advocacy organization as Executive Vice President. Over the past six years, the NAIC has executed a growth strategy that has significantly expanded its membership base and increased the flow of capital to diverse-owned firms. During that time, the NAIC has created a number of new programs, developed several new services, and built strategic alliances and partnerships which have expanded its reach and market impact. The Executive Vice President will be instrumental in leading the NAIC’s existing programs, services and providing capacity for future growth. Her responsibilities will include: Association Membership Industry Research & Market Insights Private Equity & Hedge Fund Industry Events Association Marketing & Web Services The Private Equity Women’s Initiative Affinity Services Industry Alliances With over 17 years of experience in advocacy on behalf of diverse asset managers,