Pensions & Investments has formed a partnership with the National Association of Investment Companies to bolster diversity and inclusion in the alternatives industry.
In a multiyear alliance, P&I will develop and publish commentary with the industry association, which is composed of more than 190 diverse-owned alternative investment firms. The content will be related to “the impact diverse-owned firms have on the industry and global economy,” according to a Jan. 9 news release.
“There is increased interest in how to leverage alternative assets across the institutional investment and retirement landscape, and we’re looking forward to sharing data, insights and content that can amplify the voices represented by NAIC firms,” said Nikki Pirrello, president and publisher of P&I, in the news release.
Additionally, members of NAIC will receive discounted access to the P&I Research Center, which provides resources such as financial data, trend analysis and contact information for allocators.
Robert Greene, president and CEO of NAIC, added in the release that he hopes the alliance will help “increase the flow of capital to high-performing diverse investment firms from pensions and other investment professionals.”
A NAIC-commissioned study of pension fund investments in diverse-managed funds between 2012 and 2022 found that more than 95% of capital was concentrated in nondiverse funds. On average, commitments to diverse-managed funds were 25.6% smaller than capital given to nondiverse peers.
Additionally, compared with corporate and union pension funds, public pension funds committed more capital to diverse managers, with the report adding that the public funds increased allocations to 11.1% in 2022 from 7.6% in 2012. Support among public funds was led by the $274.6 billion New York State Common Retirement Fund, Albany, which made 62 commitments over the same period.
“Our audience is hungry for information on effective investment strategies and high-performing managers,” Pirrello noted. “We believe this partnership will allow us to continue to expand our universe of those we are covering.”
