DAMI Praises Investment Consulting Firm NEPC for 1st Annual DEI Report

For Immediate Release: April 14, 2021

Contact: Carolyn Clendenin, cclendenin@rabengroup.com, 347-869-7382

Diverse Asset Managers Initiative Praises Investment Consulting Firm NEPC for 1st Annual DEI Report

Washington, D.C. - This week, major investment consultant firm NEPC publicly released its first annual Diversity, Equity, and Inclusion (DEI) Progress report. The 42-page report offers a comprehensive analysis of how NEPC is advancing towards its DEI goals and how it can improve going forward.

Robert Raben, founder of the Diverse Asset Managers Initiative, issued the following statement in response:

“We are pleased to see a detailed, honest, and comprehensive report from a major investment consulting firm -- such a refreshing change from the asset management industry as a whole. It shows a clear commitment to bolstering diversity and being transparent and accountable throughout the process. This is leadership -- plain and simple. 

“NEPC has set a good standard. Now, we need the rest of the industry to get on board. For too long, major investment consulting firms have kept their diversity data in the shadows, while making vague commitments to DEI work. NEPC’s new report makes clear that the industry can and should do better.”

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The Diverse Asset Managers Initiative is an effort to increase the absolute number of, and assets under management by, diverse-owned asset management firms for institutional investors, with specific focus on public, corporate, faith and labor union pension funds as well as foundation and university endowments.

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