About This Report
In late 2021, Nasdaq announced the creation of a private fund manager diversity, equity, and inclusion (DEI) data set that would dig deeper into firm diversity primarily at the key professional and portfolio management level. The data, which is voluntarily submitted by private fund managers, is currently available free of charge to institutional investors through the eVestment platform.
Since the launch of the initiative, we have seen an incredible response from both sides of the market. Over 170 private fund managers have submitted their DEI data for inclusion and approximately 100 qualifying institutional investors have requested access to the data set. That said, we anticipated this demand.
On the traditional asset manager side of the business, we saw searches for DEI data jump from about 1.5% to almost 3% of all searches between 2019 and 2021. While that percentage may seem small, it represents thousands of searches on the eVestment database, and it continues to grow.
We are thrilled with the level of support the private markets initiative has received thus far and believe it is a clear signal of the intent and focus that the industry has placed on DEI moving forward.
This report will highlight some of the initial findings of our private markets DEI data set as we continue to support meaningful change through access to accurate and reliable data. While the data set is nascent, we believe it is important to highlight these findings to provide greater transparency into DEI across the industry.
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In late 2021, Nasdaq announced the creation of a private fund manager diversity, equity, and inclusion (DEI) data set that would dig deeper into firm diversity primarily at the key professional and portfolio management level. The data, which is voluntarily submitted by private fund managers, is currently available free of charge to institutional investors through the eVestment platform.
Since the launch of the initiative, we have seen an incredible response from both sides of the market. Over 170 private fund managers have submitted their DEI data for inclusion and approximately 100 qualifying institutional investors have requested access to the data set. That said, we anticipated this demand.
On the traditional asset manager side of the business, we saw searches for DEI data jump from about 1.5% to almost 3% of all searches between 2019 and 2021. While that percentage may seem small, it represents thousands of searches on the eVestment database, and it continues to grow.
We are thrilled with the level of support the private markets initiative has received thus far and believe it is a clear signal of the intent and focus that the industry has placed on DEI moving forward.
This report will highlight some of the initial findings of our private markets DEI data set as we continue to support meaningful change through access to accurate and reliable data. While the data set is nascent, we believe it is important to highlight these findings to provide greater transparency into DEI across the industry.
About The Data
In designing the DEI data questionnaire, Nasdaq worked with the Institutional Limited Partners’ Association (ILPA) and FCLTGlobal to ensure its data collection aligns with ILPA’s Diversity Metrics templates and the guidelines published by each group. Following our strategic alliance with Mercer, we have collaboratively engaged with their network of private fund managers to bolster the reach of this initiative.
As of April 30, 2022, a total of 174 private fund managers have submitted some amount of DEI data across three key areas: professional team composition, ownership, and investment committee-level. Managers were asked to provide statistics on both gender diversity and ethnic diversity. Respondents retained discretion over the granularity of data provided and it is worth noting that in some jurisdictions there are limits to the level of personal information that companies can report with regards to their employees. Over 82% of the respondents were US-based firms.
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In designing the DEI data questionnaire, Nasdaq worked with the Institutional Limited Partners’ Association (ILPA) and FCLTGlobal to ensure its data collection aligns with ILPA’s Diversity Metrics templates and the guidelines published by each group. Following our strategic alliance with Mercer, we have collaboratively engaged with their network of private fund managers to bolster the reach of this initiative.
As of April 30, 2022, a total of 174 private fund managers have submitted some amount of DEI data across three key areas: professional team composition, ownership, and investment committee-level. Managers were asked to provide statistics on both gender diversity and ethnic diversity. Respondents retained discretion over the granularity of data provided and it is worth noting that in some jurisdictions there are limits to the level of personal information that companies can report with regards to their employees. Over 82% of the respondents were US-based firms.