As a firm, we believe that a diverse workforce leads to higher quality work, better decision-making and greater employee and client satisfaction. The value of diversity, equity and inclusion extends far beyond corporate output.
Racial and gender equity have important implications for the long-term health and effectiveness of our industry, the nation and the world. This is only likely to increase in importance over time as the percentage of people of color rises and more women are able to participate actively in the workforce due to changes in technology and employment norms, such as working from home. When we encourage and include women, racial/ethnic minorities and others traditionally underrepresented in financial services to come into asset management and rise through the ranks of leadership, not only do we help to change the lives of those people, we broaden the investment opportunity set for investors and, ultimately help to build a more equitable and balanced society at large.
In 2018, we created a Diversity, Equity and Inclusion Office to intentionally promote and foster inclusion and equity across the firm and our investment process, thought leadership, and professional and organizational development.
Video published in February 2021.
Commonfund continues to build out our diverse manager commitments. We use the same due diligence process for diverse managers as for all other managers with which we invest and selection criteria are also influenced by the expected needs of client portfolios for the coming year.
As of December 31, 2023. Diverse managers are defined by Commonfund as firms led by women, African American/ Black, Asian, Latino, Indigenous, people with disabilities, veterans and others not captured by this list. They must have at least 25 percent diverse leadership and additionally, have at least 25 percent diversity within the investment team.
Our commitment to diversity, equity and inclusion (DEI) in action.
Recruitment, Retention & AdvancementIntentional hiring of diverse talent
Diverse Manager OutreachProprietary diverse manager database
ImplementationIncorporate diverse managers in all searches
Partnerships & CollaborationsCollaborate with trade associations, academics, and other strategic partners
InsightPublications on DEI via Commonfund Institute
In 2023, Commonfund Private Equity became a member of the Gender Equity Consortium in order to support the promotion of gender equity in private markets. Despite the growing attention towards diversity and inclusion, recent data suggests that there has been minimal progress in increasing the representation of women in senior roles within the finance industry. It is crucial for both individuals and organizations to take responsibility and drive change within the industry.