Women in Private Equity Event Explores Solutions for Gender Disparity

To address the lack of women in alternative investing, the National Association of Investment Companies (NAIC) and the American Investment Council (AIC) jointly presented the Women in Private Equity Initiative Forum and hosted by KPMG LLP in New York City. Held on February 1st, approximately 100 investment professionals attended to discuss how hiring practices, trade associations and industry professionals can bring about solutions to reduce this disparity.

Lynne Doughtie, Chair and CEO of KPMG LLP, delivered opening remarks and discussed KPMG’s commitment to the advancement, development and empowerment of women in the marketplace. KPMG recently released the fifth “Women in Alternative Investments Report” that uncovered, among other things, 10 percent of investor respondents now have specific mandates for women-owned/-managed funds, a significant improvement since its 2013 survey in which only 2 percent of investor respondents had women-owned/-managed mandates.

Afterwards, Kelly Williams, Chair and CEO of the Private Equity Women Investor Network (PEWIN), moderated a discussion between Mike Sommers, President & CEO of the AIC, and Robert Greene, President & CEO of the NAIC, regarding the Private Equity Women's Initiative Best Practices and Guidelines issued in 2016. Sue Townsen, National Managing Partner, Diversity and Inclusion, KPMG LLP, stressed the importance of diversity and spoke of solutions to implement throughout the hiring processes at all levels as well as the unconscious bias that exists in the marketplace.

Alisa Wood, Partner, KKR and Steering Committee Member for PEWIN moderated a solutions-oriented conversation that highlighted resources for women in the industry. Each of those organizations align with the mission and purpose of the initiative. Among those resources are: PEWIN, http://pewin.org/; Girls Who Invest, http://www.girlswhoinvest.org/; and the Thirty Percent Coalition, https://www.30percentcoalition.org/.

For more information, visit http://naicpe.com/initiatives/private-equity-womens-initiative/

Why Diversify?

NAIC Perspectives, the NAIC web video series that offers insight into the world of diverse managers and the industries in which they invest, presents a new installment. Robert Raben, President & Founder of The Raben Group, reveals the significance of and need for the Diverse Asset Managers Initiative (DAMI), which aims to increase deal flow towards diverse managers. The Raben Group, which will be spearheading advocacy efforts along with the NAIC, works to identify opportunities and solve problems for clients in the corporate, nonprofit, foundation and government sectors.

Compliance Corner: Does Your Firm Have a Strong Ethics Culture?

A strong ethics culture goes hand-in-hand with maintaining investors' trust. Despite this, a 2015 survey of 364 compliance executives from across more than a dozen industries by Deloitte & Touche LLP and Compliance Week found that assessing the company’s culture for compliance ranked last as an area that compliance officers are viewed as being responsible for in their organizations. In this installment of Compliance Corner, ICSGroup, an NAIC partner, looks at ethics, its significance and how to assess whether your firm measures up.

NAIC Members in the News

Wicks Group Acquires Provider of Digital Content

Gladson Holdings, LLC announced that The Wicks Group of Companies, LLC has completed the acquisition of the company. The terms of the transaction, which closed on January 25, 2017, were not disclosed. Founded in 1971 and headquartered in Lisle, IL, Gladson is a leading provider of digital content and retail omni-channel optimization solutions for the consumer-packaged goods and fast-moving consumer goods industries. Gladson delivers product data to support omni-channel initiatives that improve shopper engagement and that maximize efficiency within retail, online and logistics operations. The company owns the largest proprietary product content library in the industry, containing more than 1 million individual products and 8 million product images.

New MainStream Portfolio Company Acquires Dermatological Services Provider

Anne Arundel Dermatology Management, a portfolio company of New MainStream Capital, announced that it acquired Maryland Dermatology Associates, LLC. (MDA), a provider of general, surgical and cosmetic dermatology services to the Westminster, MD area for over seven years. The practice, with locations in Westminster, Mt. Airy and Eldersburg, MD, will operate under the "Anne Arundel Dermatology" brand name. In conjunction with the transaction, Anne Arundel Dermatology completed a refinancing in partnership with Madison Capital Funding to provide funding for this transaction as well as capital for future acquisition and de novo opportunities. Anne Arundel Dermatology is a leading provider of dermatological services in Maryland and Virginia.

ICV Partners Makes Investment in Marketing Solutions Company

ICV Partners, LLC announced its investment in SG360, an industry-leading printing and multichannel direct marketing solutions provider. SG360 had been majority-owned by the company’s Employee Stock Ownership Plan, established in 2003. Terms of the transaction were not disclosed. Founded in 1956, SG360 offers multichannel marketing solutions and services that range from research and strategy to concept and execution, including direct mail, data analytics, and fulfillment. Headquartered in Wheeling, Ill., the company has annual revenues of $300 million. Besides Wheeling, it has locations elsewhere in Illinois and in California, Michigan, Minnesota, New Jersey, New York and Texas.