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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 Secret to a Home Run Deal

Last year was a busy one for NexPhase Capital, which completed the sale of CPS Group Holdings, Inc. to Frazier Healthcare Partners for a 4.83x return and entered a definitive agreement to sell software company Flexible Architecture & Simplified Technology, LLC to Verisk Analytics, Inc. In this installment of Perspectives, NAICs online video series, Ted Yun, Co-Founder and Managing Partner for NexPhase, shares his key ingredients to a Home Run deal.

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NAIC MBA Fellowship Opening Doors into Private Equity for Diverse Young Professionals

In 2019, Peter Wright became the first MBA student to participate in the NAIC MBA Fellowship -- a one-of-a-kind program designed to introduce diverse second-year MBA students with a focus in finance to the universe of diverse-owned private equity firms and hedge funds. In this report, Wright shares the perspective and insight he gained working behind the scenes with NAIC and how his career is poised to benefit from the experience.

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NAIC Issues Funds of Funds RFP for Growth Equity Funds Initiative

NAIC is excited to announce that it has issued a Request for Proposals (RFP) to Funds of Funds to provide solutions for the design and ongoing management of the NAIC Growth Equity Funds Initiative.

As part of Phase II of this unprecedented effort to aggregate $1 billion of growth equity capital to invest in ethnically diverse and women-owned business enterprises (DWBEs), NAIC is soliciting competitive solutions from qualified firms, which may ultimately result in a contract to work with NAIC to identify and establish a sustainable supply of growth equity investors focused on diverse entrepreneurs.

Made possible with the support of the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce, the Initiatives objective is to provide growth capital to DWBEs, enabling them to scale and create greater wealth in their communities.

The deadline to submit proposals is 5:00 p.m. EDT Friday, April 3, 2020.

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NAIC Welcomes The Rock Creek Group and Triad Investments!

NAIC welcomes two new members, The Rock Creek Group and Triad Investments! Founded in 2002 by Afsaneh Mashayekhi Beschloss, RockCreek (https://www.therockcreekgroup.com/) is a leading global investment management firm that applies data-driven technology and innovation to sustainable investing to generate long-term value. RockCreek manages approximately $14 billion.

A subsidiary of the National Minority Supplier Development Council Business Consortium Fund, Inc. (https://www.bcfcapital.com/), Triad Investments is a for-profit specialized small business investment company and a community development enterprise.

Commentary: Transforming the Investment Industry to be Truly Inclusive

Pensions & Investments Online published a commentary that is a must-read for anyone concerned with diversity and inclusion in financial services. Penned by Tina Byles Williams, CEO and CIO of FIS Group, a Philadelphia-based investment management firm, "Commentary: Transforming the investment industry to be truly inclusive" offers honest, statistics-backed insight into the industry's biases and what needs to happen for it to fully embrace inclusion.

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Women Launch #HerWorth Campaign for Gender Parity in Investing

The Private Equity Women Investor Network (PEWIN) announced #HerWorth, a campaign for gender parity in investing to highlight to allocators that investors care about gender parity. Similar to the #IceBucketChallenge, #HerWorth challenges participants to ask their financial advisor, What percentage of my portfolio is managed by female fund managers? post the results online with the hashtag #HerWorth and challenge three others to do the same. The campaign will launch on August 18, 2020, the 100th anniversary of the ratification of the 19th Amendment, which finally guaranteed womens right to vote in the US.

The goal of the initiative is to spur investment in female-led funds that will lead to a trickle-down effect to venture capital and private equity, female-founded companies, public boards, and even politics. PEWIN (https://pewin.org/) is the preeminent membership organization for senior women in private equity from endowments, foundations, pension plans, fund of funds, family offices, venture, buyout and mezzanine firms, consultants, and select advisory firms.

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MEMBERS NEWS

Arbor Centers For EyeCare and Chicago Eye Institute Receive Strategic Investment From MoonSail Capital

Chicago Eye Institute and Arbor Centers for EyeCare, two of the leading ophthalmology practices serving the Chicago market, announced that they have entered into a strategic partnership with MoonSail Capital, LLC and Plenary Partners to form Ocular Partners, Inc., the premier physician-led eye care group in greater Chicago. Ocular Partners was formed in 2020 to be the premier, clinically and surgically-focused eyecare platform in the Midwest. Its partner practices comprise leading independent providers of best-in-class vision care services in the greater Chicago area, with more than 20 providers in nine locations, and 10 specialties.

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Palladium Equity Partners Acquires School Transportation Services Providers

Palladium Equity Partners announced that one of its affiliated private equity funds has acquired ALC Schools, LLC, and Red Rock Technology, LLC, which provide alternative transportation solutions to school districts in the United States, from affiliates of American Logistics, LLC. ALC offers alternative student transportation solutions for a variety of student populations, including special education, homeless, foster, and other in-need students. ALC has offices and operations centers strategically located in San Clemente, California, Colorado Springs, Colorado, St. George, Utah and Raleigh, North Carolina.

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GenNx360 Capital Announces Sale of Midwest Can and Container Specialties

GenNx360 Capital Partners announced the sale of its portfolio company, Midwest Can and Container Specialties, Inc., a designer and manufacturer of portable fuel containers and fluid management accessories for a diverse customer base consisting of farm & fleet, lawn & garden, automotive aftermarket, hardware, and gas & convenience retailers. GenNx360 acquired Midwest Can in January 2017 as part of its packaging sector investment strategy. Over the past three years, through commercial strategy enhancements, new product initiatives and operational improvements, Midwest Can achieved attractive growth and solidified its position as a market-leading manufacturer of portable fuel containers.

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EARNEST Partners Names New Partners

EARNEST Partners announced the promotion of two new partners, Dinkar Singh, Ph.D. and Becky Do. Dinkar Singh is a senior member of the investment team. He holds a Ph.D. from Stanford University in Applied Physics and an MBA with high honors from the University of Chicago. Earlier in his career, he developed semiconductor technology at the IBM Watson Research Center. Becky Do currently serves as Chief of Staff. She has an MBA in Finance and a broad range of investment management experience. She began her career as an equity analyst with a large retirement systems administrator and expanded her experience to include research, trading and portfolio management during her role as a senior professional with a global investment management firm.

GCM Grosvenor Names Chief Technology Officer

GCM Grosvenor announced that Eric Levin joined the firm as Chief Technology Officer, based in the firms Chicago headquarters. Levin joins GCM Grosvenor from PEAK6 Investments, where he has worked for the last 13 years leading technology and business strategy. Eric served as a member of the Strategic Capital team and Investment Committee and most recently as Chief Information Officer of Apex Clearing.

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