CalPERS Board Member Stacie Olivares Joins Industry Insights Live!

We are happy to announce that Stacie Olivares, Board Member, CalPERS, will be NAIC’s guest on the August 17th edition of Industry Insights Live! Set for 3 p.m. ET, the C-suite executive, economic advisor, policy expert and thought leader will share her perspectives on ESG, DEI and other significant issues in a one-on-one virtual conversation.

Appointed to the CalPERS board in 2019, Olivares has extensive financial services, technology, and policy knowledge. She also serves on the boards of Kroll Bond Rating Agency, the Hispanic Heritage Foundation, and Mission Advancement Corp (NYSE: MACC), a SPAC focused on the consumer market and social impact. As Chief Investment Officer of Lendistry, a FinTech small business lender, Olivares helped achieve record capital raises, loan performance, and borrower diversity, elevating the number of female, diverse, and low or middle-income borrowers in the portfolio to above 80%.

Please join us for what will undoubtedly be a thoughtful, engaging conversation with an exceptional business leader.

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REGISTER NOW! Institutional Investors Invited to NAIC LP Meetup October 7!

NAIC invites all institutional investors to sign up for our annual LP Meetup! Set for 11 a.m.-5 p.m. ET October 7, 2021, this exclusive event connects leading capital allocators with high-performing diverse managers in alternative investments.

Participating LPs will gain access to a broad range of diverse private equity and hedge fund managers, while NAIC members will benefit from valuable face-time with decision-makers and heads of asset classes at leading institutional investors via our custom-curated one-on-one meetings. The LP Meetup offers a valuable opportunity to network and forge long-standing relationships. In 2020, NAIC coordinated over 250 of these rich interactions between LPs and GPs.

Participating LPs include (but not limited to) CalSTRS; Cambridge Associates; Commonfund; Conrad N. Hilton Foundation; East Bay Community Foundation; Howard University; Illinois Municipal Retirement Fund; State of Connecticut/Connecticut Retirement Plans & Trust Funds; State of Rhode Island; and Yale New Haven Health System.

The reservation deadline is approaching!

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NAIC Market Update: An Opportunity for Systemic Change

Last year’s unrest shone a spotlight on the racial inequities in the alternatives industry. In this NAIC Market Update, Anna Edwin, TPG’s Managing Director and Global Head of Talent Development, shares her insights on how the current environment created an opportunity for lasting systemic change, opening up the possibility for racial justice to become a factor in how the industry allocates capital.

Edwin also provides her perspective on how the pandemic helped firms committed to Diversity, Equity & Inclusion bring their workforce closer together through creative virtual events and open conversations.

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Profile in Leadership: Carmen Ortiz-McGhee on Inclusion in Alternatives

In this article, Carmen Ortiz-McGhee, NAIC’s COO, shared her insights on D&I and why she fiercely advocates for increased capital access to diverse managers. When a John S. and James L. Knight Foundation study found that Women and ethnically diverse investors manage only 1.3% of the investment industry’s $69 trillion in assets under management, it spotlighted the challenges and inequities these managers often face in raising capital regardless of performance.

In “Extraordinary Women in Washington, D.C.,” a special series that will appear in Forbes, Fortune and Entrepreneur Magazines this fall, the three publications will highlight successful female leaders in D.C. Metro, highlighting NAIC's paradigm-shifting programs and initiatives Carmen spearheads.

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NAIC Poised to Launch Boot Camp for Women Raising Debut Funds

In case you missed it, a great article by David M. Toll for Private Equity Career News featuring our very own Carmen Ortiz-McGhee was written on NAIC’s Women in Alternatives Initiative (WIAI)! Toll’s article breaks down the initiative, which addresses the underrepresentation of diverse women in the alternative investments industry through greater recruitment, retention and advancement of female talent. Headed by Carmen and Robert L. Greene along with NAIC partners the American Investment Council (AIC) and Toigo Foundation, the WIAI addresses industry imbalances through access to capital, market education and more.

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NAIC Welcomes Six New Member Firms!

NAIC is excited to announce six new members have joined our network: Avance Investment Management, Corsair Capital, HarbourView Equity Partners, Langdon Park Capital, Reinventure Capital and Sagard.

Avance Investment Management (https://avanceinv.com/) focuses primarily on thematic investments and transformational growth opportunities in U.S.-based middle market companies in the Services and Consumer sectors. The firm adds value through its STAGE process, which focuses on business expansion and value creation.

With offices in New York and London, Corsair (https://corsair-capital.com/) is a leading private equity firm focused on high-growth businesses in the technology, services and distribution segments within financial services. Corsair has raised $14 billion in capital across its global buyouts and infrastructure platforms since its inception. Its current fund, Corsair V, closed at $1 billion in 2017.

Langdon Park Capital (https://www.langdonparkcapital.com/) is a real estate investment management firm that focuses on commercial and multifamily properties and responsibly sources, develops and leases commercial buildings for large corporate tenants. The firm also acquires, renovates and operates affordable residential communities.

HarbourView Equity Partners (https://harbourviewequity.com/) is a global investment firm founded in 2021 focused on niche markets and esoteric investment opportunities in the media and entertainment space, powered by an industrial sourcing platform, global strategic partners, and innovative and proprietary analytics infrastructure.

Reinventure Capital (https://reinventurecapital.com/) invests in U.S.-based companies led and controlled by BIPOC - Black, Indigenous, and other People of Color, and/or women founders of all identities. Reinventure Capital is restructuring venture capital from the inside out by putting capital in the hands of successful Black, multicultural and women founders to accelerate and amplify the value and wealth they are already creating.

Sagard (https://www.sagard.com/) is a multi-strategy alternative asset manager whose platform combines private equity, venture capital, private credit, healthcare royalties and private wealth businesses. The firm’s mission is to match capital, culture, and network with opportunities to drive superior investment returns.

Please join us in welcoming these new NAIC Member Firms!

Clearlake Capital’s José E. Feliciano Named Robert F. Kennedy Human Rights 2021 Ripple Of Hope Awards Laureate

NAIC congratulates José E. Feliciano, Co-founder and Managing Partner of Clearlake Capital Group, on being named a Robert F. Kennedy Human Rights 2021 Ripple of Hope Awards Laureate. Feliciano joins fellow winners Stacey Abrams, political leader, entrepreneur, and author; Deven Parekh, managing director of Insight Partners; and Hans Vestberg, chairman and CEO of Verizon. For 53 years, the Robert F. Kennedy Ripple of Hope Award has honored exemplary leaders across government, business, advocacy, and entertainment who have taken a bold stand for justice and human rights, not only supporting these causes in principle but actively working to protect and advance the dignity and well-being of all.

Feliciano and his wife, Kwanza Jones, are co-founders of the Kwanza Jones & José E. Feliciano SUPERCHARGED Initiative (KJSI), a philanthropic grantmaking and impact investment organization that invests in both nonprofits and for-profit ventures that are compatible with its goal to make a lasting impact across four key priorities: education, entrepreneurship, equal opportunity, and empowerment. In addition, Feliciano serves on the boards of directors of the Robert Toigo Foundation, a nonprofit organization dedicated to fostering the career advancement and increased leadership of underrepresented talent, the Stanford University Board of Trustees, and Robert F. Kennedy Human Rights.

Registration Open for AAAIM National Conference 2021

With the theme “AAAIM Together,” the Association of Asian American Investment Managers (AAAIM) will host its National Conference on September 15-16, 2021, at the Four Seasons Hotel San Francisco.

AAAIM’s annual conference is the national platform for Asian American and Pacific Islander (AAPI) investment managers across the major asset classes of private equity, hedge funds, public equities, fixed income and real assets to meet, conduct business and learn from insightful leaders – and each other. This event gathers a broad range of investment professionals with common interests from public pension funds, other institutional limited partners, emerging managers and large investment firms.

The conference includes the Emerging Leaders Initiative (ELI), a half-day session focused on professional development that is complimentary for Full Conference ticket-holders. The main conference consists of a full day of fast-paced and focused programming where attendees may learn about domestic and global opportunities and network with speakers and attendees at the top of the industry. Because AAAIM works to maintain an intimate and family-like environment, registration will be limited to 350 attendees this year.

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MEMBERS NEWS

Arkview Capital Announces Investment in Genesis Bank (In Organization)

Genesis Bank (In Organization) announced the completion of its oversubscribed initial capital raise of $57.0 million, led by investors Stephen H. Gordon, managing member of Gordon Ventures, and Arkview Capital. The private offering represents the largest de novo capitalization ever in Orange County, Riverside County, and San Bernardino County, and the second-largest in Los Angeles County. Genesis Bank (In Organization) is a proposed California-chartered, non-member de novo commercial bank organized by a group of highly experienced and successful bankers and business professionals. Genesis will focus on a diverse target market, serving the low- to moderate-income population in Southern California through loans for small and mid-sized businesses and affordable/workforce housing.

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Grain Management Acquires Conexão, Announces LatAm Presence

Grain Management, LLC announced that it acquired Conexão Group, one of the largest high-speed internet service providers in the northeast and southeast regions of Brazil. Conexão is one of the fastest-growing Brazilian providers of high-speed internet, servicing more than 450,000 subscribers and over 20,000 corporate subscribers. The company also owns the entirety of its approximate 8,400 fiber route mile network.

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Clearlake Capital to Acquire Springs Window Fashions

Clearlake Capital Group announced it signed a definitive agreement to acquire Springs Window Fashions from affiliates of AEA Investors, LP and British Columbia Investment Management Corporation (BCI). The financial terms of the transaction were not disclosed. Headquartered in Middleton, Wisconsin, Springs manufactures and sells custom window coverings to retail and commercial customers, as well as independent designers, franchisors, and decorators. During Q2 2021, Clearlake announced the acquisition of two new platforms and 21 add-ons, as well as seven full or partial exits.

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Wind Point Portfolio Company Acquires CFS Division Of Arrowpac International

STG Logistics, Inc., a portfolio company of Wind Point Partners, announced the acquisition of the New Jersey Container Freight Station division of Arrowpac International, Inc (API), a leading provider of ocean import container freight station (CFS) services in the New York and New Jersey region. The acquisition furthers STG’s capacity and presence in the critical ocean freight corridor of New York and New Jersey. STG is a market-leading asset-light provider of ocean and air CFS, contract logistics, and highly complementary customized transportation services.

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OceanSound Partners Affiliate Acquires Managed IT Services Business

Netrix, LLC, a leading provider of managed and professional IT services and OceanSound Partners affiliate, announced it acquired the Managed IT Services business unit of Contegix, LLC. The acquisition significantly expands Netrix’s market presence in the Northeast and Mid-Atlantic regions, adds substantial scale to its ITSM service desk and cloud managed services capabilities. The transaction also brings together two teams of high-performing and talented employees supporting similar customer bases.

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Avante Capital Announces Subordinated Debt Financing

Avante Capital Partners announced the completion of a subordinated debt investment in Corporate Relocation International, LLC (CRI) to support a portfolio company refinancing by ShoreView Industries, a Minneapolis-based private equity firm that has raised over $1.3 billion of committed capital across four funds. Founded in 1987 and headquartered in Carrollton, TX, CRI is a full-service relocation company providing comprehensive employee mobility solutions to a diverse set of corporate clients with a focus on executive-level moves.

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Vista Equity Partners Expands Leadership Team

Vista Equity Partners announced that it is expanding its senior team with the appointment of Shelby Wanstrath as Managing Director, Corporate Growth Initiatives, effective August 2021. Ms. Wanstrath’s nearly 20 years of experience in the private investments industry will add significant knowledge and expertise to the firm. She most recently served as the Co-Head of Private Equity Funds at the Teacher Retirement System of Texas, where she oversaw the group’s $27 billion private equity funds portfolio and was a member of the Private Equity Investment and Management Committees. Prior to joining TRS in 2014, she led European private equity investments for Partner’s Group and held investment team positions at WhiteHorse Capital and Prudential Capital Group.

V-Square Quantitative Management Announces New Appointments

V-Square Quantitative Management announced the hiring of Erik Norland as its Head of Distribution. A 20-year industry veteran with asset management, custody, and global markets expertise, Norland will lead the firm’s sales, consultant relationship and client service functions across institutional, insurance and wholesale. Norland was head of the Nordic Region at Northern Trust Asset Management for 11 years, responsible for all business activity in the region, with a high focus on distribution of sophisticated ESG strategies.

Separately, V-Square announced that Anita Woodhouse joined the firm as Chief Compliance Officer (CCO). Woodhouse will provide executive leadership and strategy to global compliance, risk management, control and operations of the firm. Woodhouse has over a decade of Financial Services experience, starting her career in London, England, before relocating to Chicago in 2016. She received her BSc (Hons) in Business Studies from Cass Business School, City University London, in 2011.

One Rock Capital Partners Hires Jason Sutton as Head of Business Development

One Rock Capital Partners announced that Jason Sutton has joined the firm as Head of Business Development. Based in New York, Mr. Sutton will work closely with the investment team on marketing and investment sourcing activities. Mr. Sutton joins One Rock from Platinum Equity where he was responsible for business development activities focused on identifying and evaluating new acquisition opportunities. Prior to Platinum Equity, Mr. Sutton served as a Vice President at Deutsche Bank AG and as an Associate at HealthCap.

JOB OPPORTUNITIES

Church Pension Group Seeks Private Equity Investment Analyst

Church Pension Group (CPG), a financial firm located in Midtown Manhattan founded in 1917 to provide pension benefits to eligible clergy of the Episcopal Church, is seeking a Private Equity Investment Analyst. Investment diligence, analysis, monitoring and reporting for the $4B global portfolio of venture and buyout managers, taking direction from senior investment professionals. The primary responsibilities are to review and input quarterly partnership data, provide analysis/reporting of manager and portfolio-related information, and capture relevant portfolio developments. For qualifications and other requirements, visit https://www.cpg.org/global/about-us/working-at-cpg/job-opportunities/view-careers/?p=job%2Folvmgfwc.

General Service Foundation Issues Open Call for Impact Investment Advisor

The General Service Foundation (GSF) seeks a new investment advisor to manage its endowment and align its investments with its mission to advance racial, gender and economic justice. GSF is conducting an open call process to identify an advisor that will help GSF more deeply align its investments with its values and mission. Godeke Consulting, an impact investing strategy and advisor search firm, will manage the search on behalf of GSF. The investment advisor search will include two phases: an Open Call for Letters of Interest (LOI) that closes on September 8, 2021, followed by a Request for Proposal (RFP), which will be by invitation.

For more information: https://generalservice.org/2021/08/02/open-call-for-impact-investment-advisor/.