The U.S. asset management industry has historically wrestled with diversity, equity, and inclusion (DEI). As of September 2021, 1.4% of U.S. based assets were managed by women and minority-owned firms, despite women and ethnic minorities representing 70% of the U.S. population. Capital allocation to diverse-owned firms has long paled in comparison to that of other firms; this reality has persisted over time despite the demonstrated financial benefits of diverse teams and the stated willingness by allocators to address the issue.

This report published by Management Leadership for Tomorrow (MLT) profiles the Kresge Investment Office’s progress in its efforts toward a more diverse, equitable and inclusive asset management industry.