American Investment Council and NAIC Form Partnership to Encourage More Diversity in Private Equity Industry
To help address the issues faced by women and diverse-owned firms and professionals in the financial services industry, the American Investment Council (AIC) and the National Association of Investment Companies (NAIC), announced a comprehensive partnership to collaborate on a wide-ranging suite of programs and initiatives.
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As part of the agreement, AIC members will become an integral part of the advisory committee for NAIC’s Women in Alternative Investments Initiative (WIAI), an effort to support and increase the number of women entering the private equity and hedge fund sectors, with a strong focus on women of color.
The associations will also collaborate on:
- Internship and mentorship programs for women in alternative investments;
- Thought leadership content;
- Legislative and policy issues.
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“We’re excited about this new partnership and believe it will help increase diversity in the private equity industry. We know that having more people of color and women at the leadership tables will strengthen our industry and help build better businesses across America. Along with our recent partnership with Diligent’s Modern Leadership Initiative, this is another step our associations are taking to improve the industry’s record,” said Drew Maloney, President and CEO of the American Investment Council.
“We believe this framework will set the foundation for positive, transformational change in the private equity industry across this nation,” said Robert L. Greene, President and CEO of the National Association of Investment Companies. “There is a lot of work that needs to be done with regard to diversity and inclusion in financial services and our two organizations are well-equipped to move the needle in measurable ways.”
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