We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (17,472)
  • Industry Conferences (3)
  • Industry Job Openings (3)
  • Moore on the Market (191)
  • Negative Media (139)
  • Positive Media (73)
  • Sheryl's Articles (650)
  • Wink's Articles (257)
  • Wink's Inside Story (230)
  • Wink's Press Releases (97)
  • Blog Archives

  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • August 2006
  • Prudential makes $200M commitment to diversity, equity and inclusion through private equity investments

    August 31, 2021 by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) has made a $200 million commitment through the Prudential DEI Portfolio to private equity investments constructed with a diversity, equity and inclusion (DEI) lens. Investments will focus on limited partner stakes with substantial ownership and/or management by women and minorities, particularly those raising capital for first or second funds.

    Within private equity, structural barriers exist that prevent women-led and diverse teams from raising sufficient capital in support of their first funds. As such, only 1.3% of the investment industry’s $69 trillion in assets under management is managed by women or people of color.1 This is despite the fact that, according to the International Finance Corporation, gender-diverse fund management teams deliver an incremental 10%-20% in returns compared to non-gender-diverse teams.2

    “Our goal in managing the DEI Portfolio is to provide equity of opportunity for segments that often face challenges in the fundraising process, while also maintaining the rigorous investment standards we’re known for,” said Cherrise Cederqvist, vice president at PGIM Investments, leading the DEI Portfolio program. “Ultimately, we expect the investments made through the DEI Portfolio to result in greater representation and increased assets under management for women and minority-owned investment firms over time.”

    The DEI Portfolio Investment Steering Committee, led by a diverse group of executives across Prudential and its global asset management business, PGIM Inc., will govern future investments and evaluate funds based on specific factors including diversity of fund management ownership, diversity of the portfolio management team and impact of the investment strategy on diverse populations.

    Providing capital to early-stage managers complements Prudential’s existing investments in later-stage alternative asset firms owned and operated by women and minorities. The company currently oversees nearly $1.2 billion in AUM invested in well-established private equity funds, hedge funds and real estate funds whose management teams have a substantial or majority ownership by an ethnic minority or woman.

    “We are committed to meaningfully developing and growing women and minority managers by ensuring the selection process is equitable and inclusive across the full spectrum of early and late stage funds,” said Lata Reddy, senior vice president for Prudential’s Inclusive Solutions organization. “By providing intellectual and financial capital, and by serving as an advocate for this segment, we are seeking to break down the structural barriers that prevent diverse-led teams from raising capital.”

    About Prudential Financial, Inc.

    Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with more than $1.5 trillion in assets under management as of June 30, 2021, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.

    About PGIM

    PGIM, the global asset management business of Prudential Financial, Inc. (PFI) (NYSE: PRU), ranks among the top 10 largest asset managers in the world3 with more than $1.5 trillion in assets under management as of June 30, 2021. With offices in 16 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

    Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

    1   

    Bella Research Group and the John S. and James L. Knight Foundation, “Diversifying Investments: A Study of Ownership Diversity and Performance in the Asset Management Industry,” Jan. 28, 2019.

    2   

    International Finance Corporation, “Report: Moving Toward Gender Balance in Private Equity and Venture Capital,” March 7, 2019.

    3   

    Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 527 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on June 1, 2020. This ranking represents global assets under management by PFI as of March 31, 2020.

    1050866-00001-00

    Contacts

    MEDIA CONTACT:
    Kylie Scott
    973-902-2503
    kylie.scott@pgim.com

    Originally Posted at Business Wire on August 18, 2021 by Prudential Financial, Inc..

    Categories: Industry Articles
    currency