The National Association of Investment Companies

Celebrating 52+ years of advocating for diverse investment managers

Who We Are

NAIC is the largest industry association for diverse-owned alternative investment firms.

What We Do

Through education, advocacy and industry events, NAIC is focused on increasing the flow of capital to high-performing diverse investment managers often underutilized by institutional investors.

Who We Represent

Our members represent a broad spectrum of backgrounds and investment strategies.

Our Member Firms

Broad Spectrum of Diversity


Black-Owned Firms


Latinx-Owned Firms


Asian-American-Owned Firms


Female-Owned Firms

Broad Spectrum of Investment Strategies

Results That Matter

For more than 52 years, NAIC has contributed to the success of its member firms by advocating on their behalf for increased capital investment.

Our biennial report shows that emerging and diverse managers consistently achieve similar rates of returns to so-called mainstream funds, and in many cases outperform larger and better-known firms.

Our History

Our Founding
The NAIC was formed in 1971 as the American Association of MESBICs (Minority Enterprise Small Business Investment Companies), with early members joining from diverse communities including: Asian, Hasidic Jewish, Orthodox Jewish, African American and Latino communities.
Historic First

Legendary businessman Reginald F. Lewis served as the association’s General Counsel. His law firm specialized in venture capital transactions for small and medium-sized businesses.

SBA Buyback

The American Association of MESBICs lobbied successfully for legislation that would allow diverse firms to repurchase SBA’s preferred stock while raising funds that were not SBA regulated. Funds began approaching pension funds and other institutional investors to raise larger pools of capital.

In the 1990s many members pulled away from the SBA to become independent private equity firms. Subsequently, the American Association of MESBICs was renamed the NAIC and focused on increased access to institutional capital and best practices for the next phase of growth for the industry.
Historic Firsts

In 1994, NAIC Board Members and industry executives spawned the formation of a diverse-owned fund of funds, Fairview Capital, which was a pioneer and industry leader for investment in diverse asset managers.

Celebrating 50 Years
NAIC represents a vibrant, diverse industry where members are growing, high-performing, and becoming household names in business and financial circles. NAIC celebrated its 50th Annual Private Equity & Hedge Fund Conference in New York.

Meet our Leadership Team