– Quotes from Consortium attendees
In person for the first time in three years, sold-out Consortium 2022 continued its mission of advancing diverse and women managers and connecting them with institutional investors and consultants. We thank everyone who attended, and for those who couldn’t, below are some highlights on the most prevalent themes:
While we have seen an increasing number of first-time funds in market and diverse managers have been shown to outperform industry benchmarks, capital flows are still lagging. LPs recognized this trend during the LP Intensive session. Said one: “Evaluate all managers equally, and focus on performance.”
And when evaluating managers, LPs should look at subjective criteria and data and ask: Who is doing the menial versus the important work? Who has the most responsibility? Who is being developed/mentored to be senior managers?
During the GP Bootcamp, GPs discussed their views on fundraising. One GP spoke of her vision based on three elements: building a strong team, incorporating data and technology, and finding an established LP with whom to partner.
Meanwhile, David Perez of Avance Investment Management, stressed the importance of knowledge gathering and gaining exposure, stating, “The goal of meeting isn’t to get funding, but to get the next meeting.”
LPs acknowledged there was no “right” way to invest with diverse managers. Speaking about sourcing, they remarked:
We recently wrote about some challenges the industry faces in defining what makes managers “diverse.” One LP at Consortium stated “You can’t just look at 51% or 33%. You need to engage managers, to look at old and new data and sit down with them.”
Said another, “It’s important to move missions forward. To think more broadly about understanding diverse manager leadership, investment teams, and the next generation. It’s about team development.”
At GCM Grosvenor, investing with diverse managers is consistent with our commitment to diversity as well as our focus on seeking the best possible risk-adjusted investment returns for our clients. Read more >>
Andrew Junkin, Chief Investment Officer, Office of the General Treasurer at State of Rhode Island.
David Perez, Co-founder and Managing Partner, Avance Investment Management
Consortium 2022 welcomed a record attendance that included many first-time joiners. The perspectives and insights brought by new attendees helped keep Consortium fresh and dynamic after all these years.
Conference registrants from over 160 LPs and consultants represented many different types of firms.
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Have small, emerging, or diverse investments
Have programs larger than $500 million
LP and consultant organizations participated
Registrants from over 300 diverse- and women-led firms gained valuable exposure to LPs, acquired knowledge, and made new connections.
Those who self-reported represented a range of diverse managers.
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Sherrese Clarke Soares, Founder and Chief Executive Officer, HarbourView Equity Partners, speaking about her road to being a successful investment manager.
 “Examining the Returns: 2021,” National Association of Investment Companies (NAIC), 2021.
Past performance is not necessarily indicative of future results.
No assurance can be given that any investment will achieve its objectives or avoid losses.