Considering Racial Equity in Investment Staffing
- Collecting data on the level of diversity among staff and other decision-makers can help spark discussions and goals. (See essays by The California Endowment and W.K. Kellogg Foundation in MIE's Stanford Social Innovation Review series for more about how these organizations shifted their overall staff compositions, including investment staff.)
Foundations manage their endowments in a variety of ways, such as using an entirely outsourced Chief Investment Officer (CIO); partially outsourcing their decision-making by using an advisory firm that provides CIO services, selects fund managers, and/or researches investment opportunities; or hiring an individual or team in-house that selects fund managers and makes investing decisions. Organizations can consider diversity, equity, and inclusion among all of these internal and outsourced functions.
- Consider how to integrate goals into Investment Policy Statements and adding conversations and goals around diversity, equity, and inclusion to investment committee meetings.
- This page is evolving: if you have ideas to share, please contact us! To learn more about how organizations are considering diversity across their overall team—beyond the investment staff— and among their asset managers, visit MIE's Racial Equity Library.
This audit presents an analysis of The California Endowment's (TCE) progress associated with diversity, equity, and inclusion. In addition to providing a demographic analysis of staff, board, and grantees, the report examines previous activities, assessments of progress on goals, and further recommendations. Dr. Robert Ross and Amy Chung of TCE also discuss this audit among other investment related activities in this essay, part of a series on impact investing and racial equity in Stanford Social Innovation Review.)