Despite a challenging environment, NAIC member firms completed alpha-generating transactions, raised oversubscribed funds, and continued to thrive this year. We proudly celebrate our 190 member firms, including 22 firms that joined NAIC this year. Collectively managing an impressive $460 billion in assets, our members shape the asset management industry and continue to drive the economy forward. Their 2,200+ portfolio companies span all major industries, employing over 2 million people worldwide for an extraordinary impact.
The strength of our community bolsters our commitment to increasing capital flow to high-performing alternative asset managers. Our industry leading programs and initiatives focus on strengthening the diverse-owned alternatives sector and positioning it for future success through the 4 “A”s: Access, Academy, Advocacy, and Advancement. We’re excited to share the impact of our work in 2024 and offer an exciting preview of what’s in store for the new year.
Connecting Managers and Capital
Creating capital access opportunities remains central to NAIC’s mission, and in 2024 we continued to deliver on this commitment. Throughout the year, NAIC member firms connected with 94 institutional investors through our Capital Access initiatives. These programs empower member firms to establish meaningful, mutually beneficial relationships with LPs seeking to increase allocations to diverse-owned firms.
Institutional Investor Roadshows: Facilitating Meaningful LP-GP Engagements
Our monthly Institutional Investor Roadshows offer member firms valuable opportunities to share market insights and investment strategies in curated one-on-one meetings. In 2024, we hosted 12 roadshows with 30 LPs and facilitated 282 one-on-one meetings for NAIC Member firms. Our 2024 Roadshow hosts included Crewcial Partners, National Conference on Public Employee Retirement Systems (NCPERS), BlackRock, Intentional Endowments Network (IEN), Institutional Limited Partners Association (ILPA), U.S. Bank, UBS, Fiduciary Trust International, Minnesota State Board of Investment (SBI), and Columbia Investment Management Company.
3rd Annual Midsummer VIP Reception: Building and Enhancing Relationships
In July, we convened our network for an elegant evening celebrating the diversity of alternative asset management firms at our 3rd Annual Midsummer VIP Reception. The event brought together over 325+ engaged dealmakers, including 60 capital allocators and representatives from 105 NAIC member firms, for a remarkable night of networking and connecting.
Our esteemed 2024 Midsummer VIP Reception honorary Co-Chairs included Anastasia Titarchuk (New York State Common Retirement Fund); Angela Miller-May (Illinois Municipal Retirement Fund); Brad Lander (NYC Comptroller); Laura Hill (Advocate Health); Mina Pacheco Nazemi (Barings); Rodrigo Garcia (Talipot* Holdings); and Thomas Lee (NYSTRS).
LP Meetup: Setting the Industry Standard for Capital Conversations
Our 2024 LP Meetup brought together 45 institutional investors and 65 NAIC member firms for 290 one-on-one meetings to forge new relationships and discuss investment strategies. Designed to facilitate meaningful connections, the LP Meetup provides NAIC members with private, one-on-one opportunities to engage with LPs and initiate capital conversations. This premier event also serves as a key platform for institutional investors seeking to connect with experienced, high-performing diverse managers, solidifying its role as a cornerstone of advancing diversity and excellence in alternative investments.
Developing Skills and Competencies
Empowered a New Generation of GPs
This year’s NextGen Symposium equipped 62 women and diverse professionals with knowledge and tools to launch and scale institutional-grade alternative investment firms. The nine-week virtual course, led by top firm founders, institutional investors, and industry experts, concluded with a networking reception at Greenberg Traurig, LLP’s NYC office. This program provides strategies for firm-building and capital raising through comprehensive guidance from leading professionals.
Hosted Candid Conversations with Industry Leaders
Our 2024 Industry Insights Webinar Series showcased an exceptional lineup of industry icons and thought leaders, fostering insightful discussions on the current investing landscape and the challenges faced by diverse managers.
Special thanks to the distinguished leaders who shared their valuable insights with NAIC’s network: Christopher Ailman, CalSTRS Chief Investment Officer; Howard Sanders, Founder & Managing Director of Auldbrass Partners; Tony Lee, Co-Founder & Managing Partner of One Rock Capital Partners; and Thomas P. DiNapoli, New York State Comptroller.
Providing Data and Insights
Grew Partnerships to Support our Members
NAIC collaborates with 8 Multi-Year Corporate Partners, 10 Premier Sponsors, and 5 Industry Alliances to deliver valuable services to member firms and drive transformative initiatives year-round. In 2024, we welcomed NAIC member Cabrera Capital Markets, a leading investment bank, advisory, and institutional brokerage firm, as a new multi-year corporate partner. Our partners and sponsors support NAIC’s signature events like NextGen, provide market intelligence, and create opportunities for member firms to engage with institutional investors.
We partnered with leading organizations to deliver exclusive and impactful online and in-person engagements for our members this year. Some of these engagements included:
- Akin Gump Strauss Hauer & Feld LLP co-hosted the Junior Associate Bootcamp, empowering emerging investment professionals with the tools and knowledge needed to navigate today’s complex legal landscape.
- EY hosted two member webinars: one on GenAI where they shared cutting-edge insights on how AI is transforming private equity and revealing strategies to enhance efficiency and portfolio value, and the second highlighed how the EY Nottingham Spirk Innovation Hub helps PE firms harness innovation to drive economic value through cost efficiency, product evolution, and innovation.
- William Blair hosted a member webinar on Wealth Planning for Private Equity Professionals that covered important considerations for estate planning, tax efficiencies, and liquidity management that PE professionals should be aware of throughout their career and life paths.
- Co-hosted the 2nd Annual Welcome Reception at the CBC Annual Legislative Conference with American Investment Council (AIC), celebrating leaders making significant industry strides.
Empowering Members and Portfolio Companies to Participate in Corporate Supplier Diversity Mandates
NAIC launched the Minority Business Enterprise Certification (MBEC) Program this year in response to member demand. This program empowers well-capitalized, diverse-owned businesses to become trusted, scalable suppliers for corporate supply chains. Certified firms gain access to Fortune 500 opportunities, alignment with corporate ESG and diversity goals, and a pathway to drive social and economic access in underserved communities. The program also certifies equity-backed firms, enabling investment-backed diverse businesses to forge impactful corporate partnerships.
Providing Up-to-Date Firm and Fund Information to our Network
In 2024, we enhanced NAIC’s Member Portal to better serve our members. The new Firm Information Hub allows members to share detailed information about their firm and funds, enabling NAIC to identify targeted LP connection opportunities. In addition, the MINT Report fund pages will now be automatically generated using data from the Firm Information Hub. The MINT Report, which is distributed quarterly to more than 100 institutional investors, will now include key details about open member funds, including target industries, sector focus, total firm funds launched, and more.
Expanding NAIC’s Reach
President & CEO Robert L. Greene represented NAIC at numerous industry events throughout the year, addressing the state of diversity in the industry, highlighting the performance of diverse asset managers, and championing NAIC’s mission. His leadership has been instrumental in expanding NAIC’s reach to new and broader audiences.
In Feburuary, Bob was inducted into the New York National Association of Securities Professionals Wall Street Hall of Fame. This honor recognized his outstanding contributions to increasing access to capital for diverse-owned alternative investment firms and raising awareness of their exceptional performance.
Bob participated in a panel at the Blueprint Capital Advisors Power100 Dinner in May. He joined Derek Jones, Vice Chairman, GSM Grosvenor, to discuss, “The Evolution of Diverse Manager Investing.” Additionally in May, Bob led a panel discussion at the National Conference on Public Employee Retirement Systems 2024 Annual Conference & Exhibition (ACE) on “Finding Great Returns in the Midst of Changing Markets” where he examined the outstanding performance of diverse managers in alternative asset classes with industry leaders.
In November, Bob moderated an insightful panel discussion at SuperReturn North America. “The Emerging Manager Story: Forging Ahead Amid Ongoing Uncertainty” explored the importance of emerging managers and the opportunities and challenges they face.
Propelling Diverse Careers
Our Women in Alternatives (WIA) initiative continues to pave the way for diverse females to enter and excel in the industry.
- In: Our Paradigm Changers Internship Program had 15 participants who interned at NAIC and AIC member firms over the summer. Interns participated in training in Washington, DC, followed by a series of impactful NAIC-hosted webinars covering topics incuding leadership development, imposter syndrome, personal branding, and asset class insights.
- Up: Our flagship initiative supporting the professional growth of mid-career ethnically diverse women in alternative investments expanded to 23 participants this year, nearly doubling the previous cohort.
- Beyond: Focused on supporting women in launching alternative investment firms, we launched the WIA Advisory sub-committee to address industry needs, forged partnership opportunities within the Women of Color in Investments network, and developed a comprehensive strategy to guide future efforts. Additionally, we set the stage for 2025 by hosting five Listening Sessions with leading women-owned member firms to gather insights and drive meaningful progress.
NAIC hosted a Women Who Rock mixer in July, uniting women across all components of the Women in Alternatives initiative to foster community and celebrate diversity in the industry.
In 2024, our MBA Fellowship Program continued its mission of introducing diverse second-year MBA students to the world of diverse-owned alternative investment firms. This year’s cohort includes five talented professionals: Anja Young (Wharton School of Business), Daniel Parra (Harvard Business School), Jackson Patterson (Harvard Business School), Dapo Ogunfeitimi (Columbia Business School), and Lauryn Williams (Columbia Business School).
Over the course of 10 months, these Fellows will tackle dynamic challenges, including conducting research, enhancing member experiences, and supporting key programs and initiatives.
Expanded NAIC Team to Support our Mission and Members
In 2024, we welcomed two talented professionals to our team, bringing skills and expertise to advance our mission objectives. Aswin John joined us as Digital Marketing Manager, executing NAIC’s digital marketing strategies and external communications. Justin Greene came on board as Programs and Initiatives Coordinator, focusing on executing NAIC’s core programming and strengthening our relationships with investors. Their contributions are already driving success and positioning NAIC for an even greater impact.
Additionally, the entire NAIC community will benefit from the experiences and insights of our newest board members, Marcelia Freeman (Clearlake Capital) and Kwesi Quaye (Fairview Capital). We thank Fred Ebrahemi (Clearlake Capital) and Kola Olifinboba (Fairview Capital), who are retiring from the NAIC Board after serving for 3+ years and 10+ years respectively.
Looking Ahead
As NAIC continues to assess and enhance its programs and initiatives each year, 2025 promises to be a landmark year for advancing our mission. We’re thrilled to announce the Amplifying Alternatives Forum, which will be held on October 1–2, 2025 at the UCLA Luskin Conference Center in Los Angeles. Amplifying Alternatives will unite leaders and innovators in alternative investments for a dynamic 2 day gathering. Highlights will include a Welcome Reception for networking with top LPs, diverse investment managers, and global firms, as well as a Women in Alternatives lunch to celebrate trailblazing women leaders across the industry.
The forum will also feature insightful panel discussions and the prestigious Leadership Excellence Awards Luncheon, honoring exceptional achievements across the industry, as well as the ever-popular LP Meetup, which facilitates curated one-on-one connections between NAIC member firms and capital allocators. Mark your calendars for this must-attend event and join us in Los Angeles as we connect, celebrate, and inspire the future of alternatives.
This year has brought its share of challenges and setbacks, testing the resilience and adaptability of this organization and our members. However, through these shared trials, we’ve shown the strength of our collective spirit. We are optimistic about the new year’s opportunities and are committed to continuing our meaningful role in supporting our members’ success.
Best Regards,
Joseph J. Haslip
Chairman of the Board
Robert L. Greene
President & CEO
Multi-Year Corporate Partners
Premier Sponsors
Industry Alliances
