NAIC Perspectives: Diversity — An Important Part of William Blair’s Evolution

One of the leading advisors for diverse asset managers, William Blair has led approximately $30 billion in buy/sell transactions with these firms. In this installment of Perspectives, NAIC’s online video series, John R. Ettelson, President & Chief Executive Officer of William Blair, explains the value of instituting an effective policy and culture for diversity and inclusion and how the global financial services firm has benefited as a resultg.

NAIC Welcomes DigitalDx Ventures!

NAIC proudly welcomes DigitalDx Ventures! A majority woman-owned impact fund, DigitalDx Ventures (https://www.digitaldxventures.com/) is focused on investments that help doctors better understand their patients’ condition and make more personalized and effective treatment decisions. The firm is comprised of a team of successful Silicon Valley digital health investors and medical professionals leveraging AI and big data technologies to diagnose major global health issues (such as breast and other cancers, cardiovascular and kidney health, Alzheimer’s, and mental health) with a particular focus on enabling early, more accurate detection, minimizing invasiveness, and expanding access to treatment (through lowered costs).

Tuatara Capital: Staking its Claim in the Legal Cannabis Industry

As more states and nations legalize cannabis, the industry has gained significant attention from investors, manufacturers, and researchers looking to benefit from industry growth. In this NAIC Member Focus, we examine this expanding industry and its outlook through the lens of Tuatara Capital, a growth equity/late-stage venture capital investor focusing on opportunities in cannabis – research and testing, cultivation, processing, consumer/retail, technology, and industrial services.

Aon at a Social Distance: Strategies to Find Opportunity in a Difficult Environment

As we continue to adjust to the new normal in the face of the COVID-19 crisis, businesses are challenged to quickly respond to an exceedingly difficult economy, but one that also presents opportunities. NAIC partner, Aon, offers a Social Distance learning series that explores ways businesses can unlock much-needed liquidity by leveraging tax and litigation insurance, and by strategically managing intangible assets. For more information, please reach out to Sarah Lessem at sarah.lessem@aon.com or 212-441-1549. Upcoming installments include:

• Unlocking Liquidity: Tax Planning and Tax Exposure Mitigation for an Unpredictable World (12:00 PM ET April 21, 2020): Participants will learn how insurance is being used to disrupt the traditional approach to capital management, increase liquidity and improve bottom-line results for businesses and dealmakers. They will also discuss how tax insurance can be used to protect an escrow to free up trapped cash and allow it to be used as collateral against a loan.
  REGISTRATION LINK: https://event.webcasts.com/starthere.jsp?ei=1304650&tp_key=60c8706e77
• Unlocking Liquidity: Bringing Certainty to Pending Litigation and Judgement Preservation (12:00 PM ET April 22, 2020): Session speakers will review how insurance can bring certainty to pending litigation, ring-fencing potentially catastrophic adverse judgements or allow businesses to lock in a favorable judgement without fear of losing value if overturned. Listeners will leave with a better understanding of how insurance is being used as alternative collateral to improve business outcomes.
  REGISTRATION LINK: https://event.webcasts.com/starthere.jsp?ei=1304659&tp_key=83065cf0fc
• Unlocking Liquidity: Leveraging your Intangible Assets to Increase Liquidity (12:00 PM ET April 23, 2020): In this webinar, leading experts on intellectual property as an asset class discuss how intellectual property assets perform in economic recessions, analytic approaches to liberating cash from the assets, intellectual property-heavy divestitures, and innovative new intellectual property-backed debt financing solutions.
  REGISTRATION LINK: https://event.webcasts.com/starthere.jsp?ei=1304662&tp_key=8228739807

Rev. Al Sharpton Urges Harvard University Fund to Disclose African American Asset Managers

Civil rights activist Rev. Al Sharpton is pushing Harvard University to disclose whether its $40.9 billion endowment fund includes any African American asset managers. The university’s newspaper, The Harvard Crimson, reports that in a letter addressed to Harvard President Dr. Lawrence S. Bacow, Rev. Sharpton requested the university to issue a report divulging that information as well as any details regarding African Americans in management or senior leadership positions at consulting firms the institution may work with.

"While the systematic exclusion of people of color and women from the management of endowment assets has been a question of social justice over time, today it is for me a question of fiduciary responsibility,” Sharpton wrote in his letter. “Study after study shows very high performing women and people of color, yet those same studies show under-utilization by asset allocators."

Apply Now! NAIC Diverse Asset Manager Certification Offers Opportunities With Institutional Plans

NAIC strives to increase diversity in all areas of the financial services industry. In keeping with this objective, we introduced NAIC Diverse Asset Manager Certification, which ensures institutional investors that qualifying firms have been vetted by industry experts and attests to the veracity of their diverse ownership status. The Certification has been recognized by many leading institutional investment plans across the country.

Applications should be sent to Carmen Ortiz-McGhee via email at com@naicpe.com. Only complete application packages will be accepted and reviewed. In the application, please include:

• A copy of the Management Company Agreement
• A letter from your organization’s law firm attesting to the veracity of the ownership structure as described in your Management Company Agreement
• A copy of the Management Company audit (if available)
• A notarized letter detailing the race/ethnicity and place of birth for each member of the Management Company

All certification applications require a one-time non-refundable application fee of $1,000. Certifications are viable for three years, at which time, ownership status must be reviewed and reconfirmed.

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Stay up-to-date on the latest news from diverse-owned private equity firms and hedge funds, news-making deals, NAIC announcements, interviews with high-profile insiders and other industry happenings by following us on social media.