Bloomberg Law
June 30, 2022, 9:00 AM

Top Endowments Decline to Disclose Asset Manager Diversity Data

Janet Lorin
Janet Lorin
Bloomberg News

A majority of the richest public and private universities declined to disclose the diversity of the investment firms that help manage their endowments.

Only 12 of the 50 schools for which information was sought fully participated, according to a report released Thursday by the Knight Foundation and New York University’s Stern Center for Business and Human Rights. Another four self-reported their statistics.

Women and people of color are severely underrepresented in the asset management industry and the study’s authors sought to measure progress in this area at the schools. Diverse-owned firms -- where 50% or more of the equity ownership ...