Fund investor PineBridge Investments surveyed its private markets general partners on the topic of their various diversity and inclusion initiatives.
PineBridge’s sample set was predominantly mid-market; most (73 percent) had less than $5 billion in total assets under management, with 43 percent having “under $1 billion”. In terms of geographic split: 43 percent focused on Europe, 32 percent on North America, with the remainder across the rest of the world.
In the words of PineBridge’s report: “We have seen data indicating that an increased focus on D&I may be financially prudent, with private equity firms that take an early lead in this area positioned to both boost potential performance and influence progress in the broader business community.”
The firm reported signs of progress, but that “there is much work left to be done, particularly in the hiring and advancement of women and employees from traditionally underrepresented groups”.