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The latest news and updates from NAIC, the largest network of diverse-owned private equity firms and hedge funds.

The Largest Network of Diverse-Owned Private Equity Firms and Hedge Funds

How Colonial Consulting Built an Effective Diversity Plan

While many investment consulting firms have yet to realize the benefits of embracing diversity and inclusion, Colonial Consulting put together a plan that resulted in not only greater client satisfaction, but greater capital commitments to diverse asset managers. In this installment of Perspectives, NAICs online video series, Angela Matheny, Director of Investment Staff & Diverse Manager Equity, Colonial Consulting, shares some of the first steps the firm took with regard to sourcing diverse talent.

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Harlem Capital: Seeking Returns in the Diverse Marketplace

The brainchild of business school roommates, Harlem Capital Partners was formed with the goal to invest in 1,000 diverse founders over the next 20 years. With its first fund closed and deploying capital with diverse-owned startups, NAICs Member Focus highlights the journey of HCP founders Henri Pierre-Jacques and Jarrid Tingle through Harvard Business School, their tenure at NAIC member firm ICV Partners, and their first investments after launching the early-stage venture capital firm.

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NAIC Research Team Engaging Asset Managers and Corporate Plans for Growth Equity Funds Initiative

As part of the NAIC Growth Equity Funds Initiative an historic and groundbreaking effort to aggregate $1 billion of growth equity capital to invest in ethnically diverse and women-owned business enterprises (DWBEs) NAIC has engaged a group of consultants who will be conducting interviews with asset managers and corporate investors. The purpose of these interviews is to assess the demand for capital amongst DWBEs and gauge the desire of corporate retirement plans to allocate funds to these businesses. Those interested in participating may contact Carra Wallace: cwallace@naic.growthequityinitiative.com.

Leading the research effort to quantify the supply of capital is Marlene Orozco, who heads the Stanford Latino Entrepreneurship Initiatives Research team and has also worked to better understand capital flows across asset classes. Working alongside her is Tiq Chapa, who has worked with such accelerators as StartX and the Stanford Latino Entrepreneur Leader Program and has supported an array of fund managers.

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Investment Committee Trustees and Board Members Invited to ENGAGE Trustee Education Symposium

Trustees and investment staff from institutional investors are invited to join NAIC, GCM Grosvenor and the Diverse Asset Managers Initiative (DAMI) at ENGAGE (Educating the Next Generation of Allocators on the Growth of Emerging and Diverse Managers) on March 24-25 in Oakland, CA. ENGAGE is a unique educational workshop designed to meet the growing interest of investors seeking to learn about the merits, best practices, and strategies for investing in small, emerging, and diverse managers (SEDMs). This initiative aims to provide programming tailored for board trustees and investment staff, familiarize the participants with data that supports SEDM investing, address top objectives and roadblocks to capital allocations, and expand the universe of allocators and managers alike. This event is for institutional investors only.

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Meketa Invites NAIC Members to Public and Private Markets Emerging & Diverse Manager Research Day

Meketa Investment Group, a global investment consulting and advisory firm, invites emerging, minority-owned, women-owned and disabled-owned business enterprise (MWDBE) investment managers to attend its first Public and Private Markets Emerging & Diverse Manager Research Day of the year on April 2, 2020, in the firm's Westwood, MA office. Each participating manager will meet with a Meketa research analyst or consultant to introduce their firm and investment strategies.

Meketa defines the emerging managers category within public markets as firms with majority employee ownership and fewer than $2 billion in AUM. Furthermore, firms must never have exceeded $5 billion in AUM nor have been in business for over 10 years. There is no cost to attend and space at the event will be limited. Participants will receive additional information upon registration.

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MEMBERS NEWS

Clearlake Capital to Acquire Innovative XCessories & Services

Clearlake Capital Group, L.P. announced that it has agreed to acquire Innovative XCessories & Services LLC (IXS) from Olympus Partners. Headquartered in Windsor, Ontario, IXS is composed of two divisions, Ground Effects and IXS Coatings. Ground Effects is the market leader for OEM spray-on pickup truck bedliners, and the division provides additional margin-enhancing vehicle upfit services. IXS Coatings includes LINE-X, a franchisor of 500+ branded service locations and the industrys largest aftermarket retailer of spray-on bedliners, as well as industrial coating solutions. The transaction is expected to close in the first quarter of this year. Terms are not being disclosed.

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GenNx360 Portfolio Company Acquires World Aviation Corporation

GenNx360 Capital Partners announced that its portfolio company, Precision Aviation Group, Inc., acquired World Aviation Corporation (WAC). Toronto-based WAC specializes in the rewind and repair of rotary and static electrical (air and oil-cooled) generators and motor sub-components. Precision Aviation is a leading provider of products and value-added services to the worldwide aerospace and defense industry. The addition of WAC broadens Precision Aviation Groups suite of services following the acquisition of Momentum, a global FAA Certified Part 145 Repair Station specializing in Aviation Cockpit Flat Panel Displays.

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Palladium Equity Partners Completes Sale of DolEx

Palladium Equity Partners, LLC, announced that it sold the parent company of DolEx Dollar Express, Inc., to a group of investors including management. Terms of the transaction were not disclosed. DolEx is a leading provider of electronic funds transfer services through approximately 525 branches and over 2,700 agent locations in the U.S., Puerto Rico, U.S. Virgin Islands and Europe. The Duluth, Georgia-based companys services allow customers to quickly and safely send money to beneficiaries in North America, Latin America, North Africa, Asia, Europe, and the Caribbean through its settlement relationships with thousands of banks, exchange houses and retail locations.

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Moodys to Acquire RDC from Vista Equity Partners

RDC, the global leader in risk intelligence compliance screening, announced it has entered into a definitive agreement to be acquired by Moodys Corporation (NYSE: MCO). Located in the greater Philadelphia area, RDC has been a part of the Vista Equity Partners portfolio since September 2016. The compliance screening company provides anti-money laundering and reputational risk software that prevents criminal infiltration of the global financial system, working as an extension of its customers compliance and safety teams by providing precise risk alerts and ongoing monitoring for enhanced protection and performance. The transaction is expected to close in the first quarter of 2020.

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Eric Levin Joins GCM Grosvenor as Chief Technology Officer

GCM Grosvenor announced that Eric Levin joined the firm as Chief Technology Officer. Levin joins GCM Grosvenor from PEAK6 Investments, where he has worked for the last 13 years leading technology and business strategy. Levin served as a member of the Strategic Capital team and Investment Committee and most recently as Chief Information Officer of Apex Clearing.

Rohan Narayan Joins One Rock Capital as a Partner

One Rock Capital Partners, LLC, announced that Rohan Narayan has joined the firm as a Partner. Narayan joins One Rock from Lindsay Goldberg. Previously, he served as a Vice President in Goldman Sachs Merchant Banking Division and as a Vice President at Ripplewood Holdings. While at Ripplewood Holdings, Narayan worked alongside numerous One Rock investment professionals and operating partners, including One Rock Founders and Managing Partners Tony W. Lee and R. Scott Spielvogel.

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