Measures Fund Managers Can Adopt to Improve Their Diversity Via the Hiring Process (Part Two of Two)
Although it has been widely acknowledged that the private funds industry needs to bolster its diversity and inclusivity, efforts have still lagged behind to date. That may be attributable to some legitimate factors, such as a limited pipeline of qualified candidates. There are plenty of other ways, however, that firms can improve their diversity practices – both internally and in the industry as a whole – despite those limitations. Those and other matters were addressed in a New York Alternative Investment Roundtable webinar featuring Tracy McHale Stuart, CEO of Corbin Capital Partners; Nasrine Ghozali, chief risk officer at Oasis Management; and Imogen Rose‑Smith, co‑founder of Combinate Capital. This second article in a two-part series offers guidance for adjusting hiring practices to include diversity; thoughts on how to factor diversity into all stages of the investment process; and an overview of regional efforts in the U.S. and Asia. The first article outlined the immense value of improving diversity at firms and in the industry; suggested how firms could self-audit their existing diversity efforts; and provided guidance for how firms can approach diversity training. See “How PE Can Drive Diversity, Equity and Inclusion Internally, at Portfolio Companies and Industrywide” (Mar. 23, 2021); and “PELR Webinar Explores Legal and Compliance Employment Trends, Including Compensation, Staffing, Diversity and the Pandemic’s Impact” (Nov. 17, 2020).