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The Largest Network of Diverse-Owned Private Equity Firms and Hedge Funds |
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SAVE THE DATE: The NAIC Annual Conference Heads to the West Coast!Please mark your calendar for October 23-24, 2019 as the National Association of Investment Companies Annual Private Equity and Hedge Fund Conference returns to the West Coast! Join the largest gathering of diverse investment managers at UCLA's Luskin Conference Center for an unparalleled opportunity to network with top-performing dealmakers as well as capital allocators representing over $1.5 trillion in assets to invest. Our panel discussions serve as a platform to share insights and connect with fellow investment professionals while gaining greater knowledge of the industries in which we do business. Stay tuned for details! |
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NAICs 2019 Performance Study to Launch on February 28th!NAIC will be launching its biennial performance study on February 28, 2019. We are delighted to collaborate once again with Meredith Jones and KPMG LLC to quantify the stellar performance of our member firms. The results will be published at the NAIC Annual Private Equity and Hedge Fund Conference. |
COMING SOON! NAIC Launches New Program for Funds in Formation and Those Considering Starting a New Private Equity FirmNAIC is excited to announce the launch of Establishing the Next Generation of Private Equity Firms Symposia, with the generous support of the U.S. Minority Business Development Agency. These sessions will provide participants with a 360-degree view of what is required to start a new private equity firm and the process of raising capital. Having received perspectives from industry leading experts and private equity executives who have successfully raised funds and capital allocators, 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 what it takes to successfully fundraise. NAIC has leveraged its broad network to convene some of the top stakeholders from the industry to deliver key insights. In 2019, these sessions will take place in Washington, DC, Los Angeles, CA, and Chicago, IL, in April, May and July respectively. |
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NAIC Perspectives: Startup Struggles for WomenThose women who have advanced in the private equity industry still face pay disparities, which makes it more challenging to raise startup capital for those who opt to start their own firms. Kelly M. Williams, Senior Advisor, GCM Grosvenor, would like to see more capital available to women to take the risk and start their own firms. The industry gets better, she says, when there are more firms owned and managed by women and people of color. |
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NAIC Welcomes STRAIT Capital and MoonSail Capital!The NAIC announced that STRAIT Capital (https://www.straitcapital.com/) and MoonSail Capital (https://moonsailcapital.com/) have joined the association. Founded in 2006, Dallas-based Strait is a SOC I Type II certified fund administrator providing a full range of financial solutions for hedge funds, private equity firms, family offices and corporations. Services include full fund administration, middle office operations, CFO suite services, regulatory compliance services, investor relations, performance and risk reporting. With offices in Los Angeles and San Juan, MoonSail seeks to invest in privately held companies in Puerto Rico and the entire U.S. MoonSail targets Lower Middle Market firms with growth potential and generally less than $10 million of EBITDA. Sectors of interest include healthcare services, business services, financial services, and consumer. |
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DAMI Publishes Investment Consulting SurveyThe Diverse Asset Managers Initiative (DAMI) recently published its first annual Investment Consultant Survey. The survey provides great insight into the underrepresentation of women and racial or ethnic minorities at some of the largest investment management consulting firms in the United States and how it contributes to extremely low engagement of diverse asset managers by many retirement plans. One of the Investment Consultant Surveys key findings was that African American and Latino managers are the least represented at these firms (with the exception of American Indians who are not represented in any capacity), with each demographic finishing last in representation at four of the 11 firms surveyed. Women are also severely underrepresented: their ownership status in these ICs is for the most part in the single digits, and never more than in the 20 percent range for some firms. |
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Chicago Tribune Publishes John Rogers Op-Ed on Economic InequalityThe Chicago Tribune recently published an article by John W. Rogers Jr., Chairman and CEO of Ariel Capital Management, on economic inequality in society. In the piece, he makes the business case for diversity and shares the downside risks organizations face when failing to become more inclusive. |
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Got News? Let Us Know!Whether your firm has closed on a big deal, a new fund or brought in a new executive, the NAIC wants to know! Please share the important happenings at your firm with us for inclusion in our e-newsletters and let your colleagues around the industry know of your successes. Please send news releases to Alan Hughes: [email protected] |
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Fairview Capital Announces Three PromotionsFairview Capital Partners has announced that it has promoted Kwesi Quaye, Kelly Zerfass and Damaris Rivera. Mr. Quaye, now Senior Associate, joined Fairview in 2017 and is a member of the Investment Team. He focuses on research, due diligence, deal sourcing, investment monitoring, and business development for Fairviews venture capital and private equity partnership and direct co-investment portfolios. Kelly Zerfass, who was named Assistant Controller - Fund Operations, joined Fairview in 2012 and is responsible for fund accounting, performance reporting, quarterly client reporting and annual audits. Damaris Rivera, now Senior Research Analyst & Bus Dev Coordinator, joined Fairview in 2004 and is responsible for supporting members of the investment team by managing daily operations and coordinating events and meetings and also assists the accounting team with portfolio management, financial analysis and reporting. |
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Stellex Completes Acquisition of Paragon MetalsStellex Capital Management announced that it has acquired Paragon Metals, a middle-market private equity firm with offices in New York and London. With three manufacturing facilities in southern Michigan, Paragon Metals, LLC is a leading manufacturer of complex, tight tolerance precision machined components and assemblies. Paragons broad process expertise is complemented by a growing reputation as a product expert across various applications. The Companys products are found on many critical applications such as transmission, driveline, engine, and chassis among other industrial applications. |
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Fairview Capital Releases Report on Woman and Diverse-Owned Private Equity FirmsFairview Capital Partners recently released the Fairview Capital 2018 Market Review of Woman and Minority-Owned Private Equity Firms. The study provides a market update and review of woman and diverse-owned private equity firms actively raising capital. The reports findings include the woman and minority-owned segment of the private equity industry continued to expand at a disproportionately higher rate relative to the overall private equity market. This increase represented the largest ever in a one-year period since Fairview began tracking data on diverse firms and has more than doubled since 2015. |
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DPI Invests in African Facilities Management CompanyDevelopment Partners International announced it made a $35 million investment in International Facilities Services (IFS), a facilities management specialist in Africa. The investment will help fund an acquisitive growth strategy and support working capital requirements for existing contracts in addition to its robust pipeline of new projects across the continent. IFS provides a full suite of specialist facility management services to clients on remote sites across the African continent, including catering, maintenance, laundry and housekeeping. Employing over 2000 people, IFS operates across a diverse range of geographies, with key customers in numerous African countries and services a broad range of sectors including hospitality, natural resources, shipping and mining. |
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One Rock Capital Partners to Acquire Plastics Distribution BusinessOne Rock Capital Partners, LLC announced that one of its affiliates has entered into a definitive agreement to acquire the plastics distribution business of Nexeo Solutions, Inc. The transaction will follow Nexeos pending acquisition by Univar Inc. and is expected to close during the first half of 2019. Nexeo Plastics is a global leader in the distribution of plastics products, including polymer products and prime engineering resins. Through its vast distribution network, Nexeo Plastics connects world-class suppliers with customers across a broad cross-section of industrial segments in more than 60 countries in North America, Europe and Asia. |
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