AIC and NAIC Form Partnership to Encourage More Diversity in Private Equity Industry
WASHINGTON, D.C. — To help address the issues faced by women and diverse-owned firms and professionals in the financial services industry, the American Investment Council (AIC) and the National Association of Investment Companies (NAIC), today announced a comprehensive partnership to collaborate on a wide-ranging suite of programs and initiatives.
As part of the agreement, AIC members will become an integral part of the advisory committee for NAIC’s Women in Alternative Investments Initiative (WIAI), an effort to support and increase the number of women entering the private equity and hedge fund sectors, with a strong focus on women of color.
The associations will also collaborate on:
- Internship and mentorship programs for women in alternative investments;
- Thought leadership content; and
- Legislative and policy issues.
“We’re excited about this new partnership and believe it will help increase diversity in the private equity industry. We know that having more people of color and women at the leadership tables will strengthen our industry and help build better businesses across America. Along with our recent partnership with Diligent’s Modern Leadership Initiative, this is another step our associations are taking to improve the industry’s record,” said Drew Maloney, President and CEO of the American Investment Council.
“We believe this framework will set the foundation for positive, transformational change in the private equity industry across this nation,” said Robert L. Greene, President and CEO of the National Association of Investment Companies. “There is a lot of work that needs to be done with regard to diversity and inclusion in financial services and our two organizations are well-equipped to move the needle in measurable ways.”
About the private equity industry and the American Investment Council
There are more than 5,000 U.S. private equity firms with investments in approximately 35,000 American businesses that employ 8.8 million people. From 2013-2018, U.S. private equity firms invested $3.4 trillion into American companies.
The American Investment Council (AIC) is the leading advocacy and resource organization established to develop and provide information about the private investment industry and its contributions to the long-term growth of the U.S. economy and retirement security of American workers. Member firms of the AIC consist of the country’s leading private equity and growth capital firms united by their successful partnerships with limited partners and American businesses. More information about the AIC can be found at www.investmentcouncil.org.
About National Association of Investment Companies:
Investment Companies is the industry association for and largest network of diverse- and women-owned private equity firms and hedge funds. NAIC’s membership is comprised of more than 100 firms that collectively manage over $178 billion in institutional assets.