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Bailey McCann, Opalesque New York: Both sponsors and investors want to improve their diversity, equity and inclusion (DEI) policies but significant work remains according to a newly released progress report from the Institutional Limited Partners Association(ILPA).
ILPA launched its "Diversity in Action" initiative to bring together sponsors and investors that want to improve their approach to DEI. The initiative launched in December of 2020 with 46 signatories and has expanded to 180 organizations as of August 2021.
The initiative seeks to build momentum around the adoption of specific actions that advance DEI over time. GPs and LPs who join the Diversity in Action initiative commit to specific actions that advance diversity and inclusion, both within their organization and the industry more broadly. ILPA has created 9 actions that supporters can do as part of the initiative.
The actions are centered on improving data capture and metrics; integrating DEI into investment strategies; building a talent pipeline and inclusive culture, and measuring progress. As signatories work on implementing the actions they share best practices that have been shown to improve DEI outcomes.
According to the progress report, many LPs are heavily focused on data gathering as few sources of disaggregated data are available and until recently, few firms were collecting data with DEI policies in mind. As LPs have started to collect more data, GPs are thus gathering it in respon...................... To view our full article Click here
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