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

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


NAIC E-News

NAIC Perspectives: The Return on Investing in Diversity

For a firm to deliver their best to clients, they must nurture and retain top talent. In this installment of Perspectives, NAIC’s online video series, Jacqui Robertson, Global Head of Talent, Diversity and Inclusion for William Blair & Co., talks the value of having different perspectives within an organization and properly investing in the right talent.





NAIC E-News

UAW CIO Hershel Harper Confirmed for NAIC Conference!

Hershel Harper, Chief Investment Officer, UAW Retiree Medical Benefits Trust, is among the confirmed speakers for the National Association of Investment Companies’ Annual Private Equity and Hedge Fund Conference. Scheduled for October 23-24, 2019 at UCLA's Luskin Conference Center, the largest gathering of diverse investment managers provides an unparalleled opportunity to network with top-performing dealmakers as well as capital allocators representing trillions in assets to invest. Mr. Harper will be among the featured speakers for The Year Ahead: Capital Allocators Share Their Outlooks, which will reveal what’s on the radar of CIOs and plan Trustees, where they see possible ups and bumps, and how private equity fits into their portfolios.





NAIC E-News

Space is Limited! Establishing the Next Generation of Private Equity Firms Symposium

NAIC is excited to announce its second Establishing the Next Generation of Private Equity Firms Symposium will take place on May 31 in Los Angeles. Possible through the support of the U.S. Minority Business Development Agency, these intense one-day sessions will provide participants with a 360-degree view of what is required to start a new private equity firm and raise capital. Having received perspectives from capital allocators and private equity executives who have successfully raised funds, those in attendance will walk away from this experience with an in-depth understanding of the steps, processes, and considerations critical to launching a new firm and positioning it for greatest success. NAIC has leveraged its broad network to convene some of the top stakeholders from the industry to deliver key insights.





NAIC E-News

Nominate Your Firm’s Rising Stars Now!

Now is the time to showcase the young talent in your firm! The NAIC is accepting nominations for its Rising Star Award, which recognizes outstanding young professionals in the financial services industry. The award will be presented during the NAIC Annual Private Equity and Hedge Fund Conference October 23-24 at UCLA's Luskin Conference Center.




Corporate Partners Sought for Diverse Students Internship Program

Vista Equity Partners and Fund 2 Foundation are seeking corporate partners and organizations to provide eight-week internship positions for pre-qualified diverse rising sophomores with STEM and non-STEM majors. The goal is to place at least 1,000 of these young people by 2019 and 10,000 by 2020. There is no cost for corporate partners to gain access to this talent pool. Developed by Smith's Fund II Foundation, the program is designed to connect companies with collegians from historically underrepresented communities. Its particular emphases are STEM-related fields and African American students.

Please contact the internX Program Manager, Ms. Ivana Jackson ([email protected]) and their corporate liaison Mr. Keith Shoates ([email protected]) for information on becoming a corporate partner.



NAIC Invites Young Professionals to Apply for NAIC Conference Scholarship

NAIC invites young professionals employed within financial services to apply for a scholarship to the NAIC’s Annual Private Equity and Hedge Fund Conference in Los Angeles. This is an unparalleled opportunity to network with seasoned executives and learn about current industry trends and best practices. Candidates must be employed in the financial services industry for no more than seven years and compose a 250-word essay on one of three subject areas in order to be considered.

Applications must be submitted by June 28, 2019. Accepted applicants will be notified on July 19, 2019 and will receive a complimentary registration to the conference (excluding travel and lodging).




Job Opportunity! Park Avenue Finance Seeking Analysts

Park Avenue Finance (PAF) is seeking an experienced, self-motivated professional to directly support the senior executive team in the management and operations of the business. Founded in September 2016, PAF is a financial solutions innovator built on proprietary technology and bespoke products designed to unlock value for global private companies and individuals burdened by rules-based constraints. The position offers significant career advancement and financial reward for a self-starter, keenly interested in working in an intellectually challenging, rapidly evolving, creative environment with one of the leaders in financial innovation. Headquartered in New York City, with an office in London, this position is based in New York. Qualified candidates can send a cover letter and resume in strict confidence (PDF format) to [email protected].



NAIC E-News

Career Opportunities Showcased on NAIC Website

As part of our ongoing mission to bring greater diversity to financial services, the NAIC website lists exciting career opportunities at some of the most respected firms within the private equity and hedge fund industries. Click below to view the latest industry job openings.





MEMBERS IN THE NEWS


Grain Management Closes Fourth Fund with Nearly $900 Million in Commitments

Grain Management announced the closing of its fourth fund, Grain Communications Opportunity Fund II, L.P. (GCOF II), with $899 million in commitments. GCOF II targeted $750 million and closed with excess demand driven by strong, early support from existing limited partners and significant interest from new investors. Since its founding in 2007, Grain has managed more than $2 billion across its investment vehicles. The formation of GCOF II allows Grain to continue its exclusive focus on opportunities in mission-critical communications assets, both domestic and abroad, and structured equity investments in companies that own and operate them.



Clearlake Capital to Acquire Operations Management Solutions Provider

Clearlake Capital Group, L.P. announced that it has signed a definitive agreement to acquire Dude Solutions, the leading software-as-a-service (SaaS) provider of operations management solutions, from Warburg Pincus. Financial terms were not disclosed. Dude Solutions is a market leading provider of cloud-based operations management software that automates mission-critical enterprise asset management workflows such as work order, inventory, energy, capital planning, facility scheduling, and community development. Dude Solutions provides an end-to-end SaaS solution for its over 12,000 clients in the education, government, healthcare and manufacturing verticals.



GenNx360 Capital Portfolio Company Acquires Power Performance Industries

GenNx360 Capital Partners announced its portfolio company, GenServe, LLC, has acquired Power Performance Industries (PPI). Based in Yonkers, New York, PPI provides maintenance and repair services to industrial generators and backup power solutions, as well as generator and equipment sales and rentals. The company serves a diverse set of customers in the healthcare, corporate and real estate end markets. GenServe is a leader in the sale, maintenance, and repair of industrial generators and backup power solutions.


ON THE MOVE


HarbourVest Partners Appoints New Managing Director

HarbourVest Partners announced that Vinay Mendiratta has joined the firm as a Managing Director. Mr. Mendiratta has nearly 30 years of experience in private equity and alternatives distribution in both the wealth management and institutional channels. Prior to joining HarbourVest, he was Head of Wealth Management Sales at Adams Street Partners, responsible for strategy and development of the firm’s wealth management business. Before that, Mr. Mendiratta held the role of Head of Wealth Management Platform Distribution at York Capital Management. Mr. Mendiratta received a BA in Economics and Political Science from Duke University and an MBA in Finance from Columbia University.

INDUSTRY EVENT


Diverse Professionals Invited to Learn Effective Fundraising, Relationship Management, and More from LPs

The National Venture Capital Association (NVCA) and Greenspring Associates are hosting its third LP Office Hours in Washington, DC from 2:00-6:30 pm on June 6th at NVCA's offices (25 Massachusetts Ave NW, Suite 730, Washington, DC). Launched in 2018, LP Office Hours is an in-person education program for professionals of diverse backgrounds to receive advice from and connect with LPs and other GPs, with the goal of learning from LPs about the fundraising process, GP-LP relationship management, and other guidance for success as a VC from the LP’s perspective, in an open and collaborative environment. The event is off-the-record and closed to the press.



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