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Alternative Market Briefing

U.S. Foundation wants to increase diversity of emerging and minority managers

Monday, April 28, 2014

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Elizabeth Hewitt
Benedicte Gravrand, Opalesque Geneva for New Managers:

A couple of recent interviews, sponsored by conference organizers, give some interesting perspectives on the world of emerging fund managers: one from an institutional investor’s vantage point, another from a marketer’s.

U.S. Foundation wants to increase diversity of emerging and minority managers The Robert Wood Johnson Foundation, the U.S. foundation devoted to the public’s health, manages $10bn in AuM. Brian O’Neil, CIO and Elizabeth Hewitt, Managing Director, Public Equity recently told Consortium 2014 (on RGAmeetings.com) that as their investment department is a bit short-staffed, they hired a consultant, Rock Creek, to help with their Emerging Manager program.

"The reason we chose to start our emerging manager program in the hedge fund space is that we thought it was the most likely place where emerging managers could outperform and we had room to grow our allocation," they said.

The Foundation is a long term, socially responsible investor that looks for diversity and good risk return.

"We expect the returns from our emerging manager program to be as good as the returns posted in other areas—there is no thinking that the program should have a lower bar," the explain. "We know that emerging managers, including w......................

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