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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

NAIC Perspectives: The Case for Boardroom Diversity

Once a diverse professional has earned a seat on a corporate board of directors, the onus is on him or her to become a leader in the boardroom and champion economic fairness, says John W. Rogers Jr., Chairman, CEO & Chief Investment Officer of Ariel Investments. In this installment of Perspectives, NAIC's online video series, Rogers, who helped launch the Black Corporate Directors Conference more than 15 years ago, shares his thoughts on the significance of diversity in the boardroom as well as the need for effective diverse board representation.

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Next Generation Symposiums Lead to NAIC Membership Growth!

The NAIC is proud to announce that our membership continues to grow, this time thanks to the Establishing the Next Generation of Private Equity Firms series. The symposiums, a one-day series of intense sessions that provide participants an in-depth understanding of what is required to start a new private equity firm and successfully raise capital, have directly resulted in 11 new member firms for our network. They are Greenhall Capital Partners, Laurel Oak Capital Partners, Dynamk Capital, Decipher Capital, Farid Ventures, Mendoza Ventures, Decatur Road Capital, Providence Friends Capital, DAWI, Aprio LLP, Griot Holdings Limited.

For more information on the last Next Generation Symposium of 2019 which will take place on July 19th in Chicago, click here.

MEMBER FOCUS: Brazil-Based DXA Investments Seeks Outsized Returns in Under-the-Radar Companies

Based in Rio de Janeiro, DXA Investments sees great opportunities in Latin American small and medium-sized enterprises, which are often overlooked by larger international funds. In this installment of Member Focus, we take a look at DXA and how the firms strategy paid off with its first exit to the tune of a 12.4X return on invested capital.

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MBDA to Host Opportunity Zone Summit in Detroit

The Minority Business Development Agency (MBDA) will be hosting its second Opportunity Zone Summit from 10:00 am to 12:30 pm on June 19, 2019, at the Crowne Plaza Detroit Downtown Riverfront in Detroit. Attendees will network with Opportunity Zone experts, investors, fund managers, and minority business enterprises (MBEs).

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Colonial Consulting Publishes White Paper on Investment Manager Diversity

Why dont we have more investment manager diversity? That simple question from the CEO of a long-standing client served as a catalyst for a change in perspective for Colonial Consulting. Differentiated Talent is a white paper published by Colonial that chronicles that defining moment, how it challenged the firm to re-think its business practices and following that period of self-analysis, to enact change for the better.

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Cambridge Associates Andrea Auerbach Confirmed for NAIC Conference!

Andrea Auerbach, Head of Global Private Investments, Cambridge Associates, 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. Ms. Auerbach will be among the featured speakers for Change Is a Constant: How Consultants Are Fueling Engagement with Diverse and Emerging Managers, which looks at how consultants have helped spotlight key benefits of working with emerging and diverse managers.

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Nominate Your Firms 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.

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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 NAICs 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).

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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.

NAIC IS HIRING!
The NAIC is looking for a self-motivated manager who is highly organized and detail-oriented, flexible and collaborative with an ability to prioritize and manage multiple tasks simultaneously. The NAIC Programs and Initiatives Manager will have exposure to a broad variety of NAICs initiatives, with responsibilities for each. The ideal candidate will enjoy working both independently and as part of a team in a fast-paced environment; s/he should be eager to tackle the challenges of a high-performing, quickly growing membership organization.

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MEMBERS IN THE NEWS

Mill Point Capital Portfolio Company Acquires Enterprise Content Management Firm

Avenu Insights & Analytics, a Mill Point Capital portfolio company, acquired the operations and assets of The Windward Group and GRIDS Information Technologies. Over several decades, Louisiana-based Windward has built a business based on helping judicial systems and other organizations obtain, organize, store and deliver critical information. GRIDS has been a leader in providing conveyance records software to Louisiana court systems. All the Windward operations, including the software for scanning, workflow, cloud file sharing and document management will become part of Avenus Records Solutions group.

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RLJ Equity Partners Portfolio Company Acquires TechMedia

RLJ Equity Partners' portfolio company Naylor Association Solutions announced the acquisition of TechMedia, the leading producer of digital marketing conferences in the United States. Founded in 2001 in North Carolina, TechMedia produces 20 conferences annually through its Digital Summit series. Naylor is the leading provider of engagement and revenue generation services through its outsourced software, communications, event, and management services, which it provides to the trade and professional association market in the U.S. and Canada.

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Clearlake Capital-Backed Company to Create the Largest Provider of Aftermarket Custom Wheels

Wheel Pros, a Clearlake Capital Group company, and MHT Luxury Wheels, Inc. announced that they have combined to form the largest automotive aftermarket wheel platform in the world. The combined company will operate under the Wheel Pros name and offer 22 highly complementary brands, approximately 1,400 styles, and 15,000 SKUs. Financial terms of the transaction are not being disclosed. Founded in the 1990s, MHT became one of the dominant players in the aftermarket wheel industry, serving off-road light truck, street, tuner/racing, luxury, and power sports vehicles.

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Grain Management Portfolio Company to Acquire InterCarrier Networks

Great Plains Communications, the largest privately-owned telecommunications provider in Nebraska and a Grain Management portfolio company, announced that it has entered into a definitive agreement to acquire InterCarrier Networks, a regional fiber optic carrier with a high-capacity network spanning Illinois, northern Indiana, the St. Louis metro area in Missouri, and Kentucky. Headquartered in St. Louis, Missouri, InterCarrier Networks provides bandwidth infrastructure solutions to telecommunications carriers and major enterprises in Midwestern markets where cost-effective bandwidth transport has traditionally been difficult to obtain. The transaction is expected to close in the third quarter. Financial terms of the transaction were not disclosed.

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HarbourVest Partners Appoints William Royer as Managing Director

HarbourVest Partners announced that Bill Royer has joined the firm as a managing director and will become Chief Compliance Officer (CCO) in early June. Based in Boston, Mr. Royer will lead the continued evolution of the firms global regulatory compliance program and serve as an adviser to the Portfolio Construction Committee and the Conflicts Committee. Mr. Royer has nearly 30 years of experience in senior roles focused on compliance and law at both private companies and the Securities and Exchange Commission (SEC), with broad and deep knowledge across asset classes. Mr. Royer received a B.S. in Chemistry from the University of New Hampshire and a J.D. from the Boston University School of Law.

CalPERS Hires Private Equity Head

California Public Employees Retirement System announced that Greg Ruiz will join the pension fund as its new managing investment director for private equity. He comes to CalPERS from Palo Alto-based Altamont Capital Partners, where he serves as a principal. Ruiz began his career at Goldman Sachs before joining the private equity firm FFL Partners. He joined Altamont Capital Partners in 2013. Ruiz earned a Bachelor of Arts degree from Princeton University and an MBA from Stanford University's Graduate School of Business.

JOB OPPORTUNITIES

New Positions Available at CalPERS

The California Public Employees' Retirement System (CalPERS) announced the following job opportunities are available. To apply, follow the links embedded within the position name.

Investment Servicing Division (ISD) is recruiting to fill one Investment Officer II position. Applications will be accepted until the close of business on 6/14/2019.
Opportunist Strategies (OS) is recruiting to fill one Investment Officer III position. Applications will be accepted until the close of business on 6/14/2019.

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