NAIC to Present Fiduciary Case for Diversity Among Fund Managers at Private Equity Summit

LOS ANGELES, APRIL 24, 2018 – The National Association of Investment Companies (NAIC), the industry association for diverse-owned and emerging investment managers, will present the fiduciary case for capital allocators to engage with diverse investment managers during Institutional Investor’s 2018 Private Equity Summit – West Coast in Los Angeles today.

Robert L. Greene, President & CEO of the NAIC, will serve as a panelist for The Power of Diversity – A Competitive Advantage, a discussion that will examine the impact of diversity from a quantitative standpoint and explore how this issue might be incorporated into the investment opportunity sets identified by allocators, potentially changing the way institutions invest.

For more than four decades, the NAIC has championed the cause for greater diversity among public, private pension plan and endowment managers. While a significant portion of these institutional investment funds are contributed to by persons of color, they are rarely managed by diverse investment professionals, despite strong returns. Examining the Returns: The Financial Returns of Diverse Private Equity Firms, a report by the NAIC and KPMG LLC., quantifies the degree to which diverse-owned firms outperformed the Cambridge US Buyout benchmark over a 10-year period.

“The under-utilization of diverse managers, particularly at a time when they are among the highest-performing segment of US asset managers, defies business logic,” says Greene. “The Private Equity Summit is an outstanding opportunity to extend NAIC’s message regarding the enormous talent and opportunity residing in an often-overlooked group of investment professionals.”

About the Summit: Utilizing a private, closed‐door format, the Private Equity Summit will provide qualified limited partners and general partners the opportunity to engage and interact with industry peers to share their idea regarding opportunities, concerns and trends in order to build out a network of like-minded thought leaders.

About the NAIC: Based in Washington, DC, the National Association of Investment Companies (www.naicpe.com) was founded in 1971. Comprised of nearly 50 member firms representing over $90 billion in assets under management, it is now the largest network of diverse-owned private equity firms and hedge funds in the United States.

Alan Hughes