Carlyle announces ESG-linked credit facility in Europe at €2.3 billion tied to advancing board diversity and other ESG targets
Global investment firm Carlyle today announced it has secured a €2.3 billion ESG-linked credit facility for its European private equity and real estate platform, to support the firm’s 30% board diversity target, and to address climate change and achieve better ESG outcomes through training. The new facility represents the next step in Carlyle’s ongoing commitment […]
Prudential makes USD200m commitment to diversity
Prudential Financial has made a USD200 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 […]
Target Pledges to Buy $2 Billion in Black-Owned Brands by 2025
Target Corp. will spend more than $2 billion with hundreds of Black-owned businesses by the end of 2025, making the pledge just as its home city of Minneapolis is grappling with the murder trial of the former city police officer who killed George Floyd. The cheap-chic retailer will also add products from more than 500 […]
BlackRock Breaks Ranks With Wall Street in Performing Race Audit
BlackRock Inc. is breaking ranks with peers on Wall Street by doing a deep dive into its business to see how it may contribute to racial inequities in the financial system. The world’s largest money manager plans to undergo an independent racial audit of its operations, following a request from a shareholder. Companies including Airbnb […]
TPG Starts Program to Back and Train More Diverse Fund Managers
Private equity firm TPG is stepping up its diversity efforts with a plan to back more fund managers who are women, people of color and LGBTQ+. With a new program called TPG Next, the San Francisco-based firm will buy stakes in such managers and have the emerging firms’ executives work side-by-side with TPG leaders, co-Chief […]
McGuireWoods wants to diversify private equity
If you fill a room with private equity professionals, chances are that you won’t find many faces of women and people of color. A pair of partners at McGuireWoods hope a new initiative they launched in January can help change that. Securities department chair Greg Kilpatrick and tax and employee benefits department chair Gerald Thomas […]
Blackstone’s Perry says private equity must do more on diversity
Blackstone Group Inc.’s Verdun Perry said the private equity industry needs to step up when it comes to diversifying its ranks and increase the number of places where it seeks out talent. The largest alternative asset manager, which recruited from just nine schools in 2015, now searches for future employees at 44 of them, including […]
Carlyle Inks $4.1 Billion Credit Line Linked to Board Diversity
Carlyle Group Inc. has established a $4.1 billion credit line that ties borrowing costs to how well its portfolio companies achieve board diversity goals. The buyout firm has structured the revolver for its Americas corporate private equity funds, with pricing of the debt depending on whether they meet a previously set target of 30% diverse […]
PE and VC entrepreneurs publish blueprint for Diversity and Inclusion in the investment industry
A number of leading venture capital and private equity investors have published substantial guidelines on Diversity and Inclusion in the investment industry. Investors and professionals from the venture investment community have today released best practice guidelines to help increase investment in under-represented founders and drive diversity and returns across the investment sector. The “Guidance and […]
How To Attract Top Diverse Talent For Private Equity-Backed Companies
Partner, The Lancer Group, specializing in C-Suite searches for private equity firms and their portfolio companies in software. Diversity and inclusion are front of mind for many investors, as recent events have further highlighted gender and racial inequality in the U.S. today. More than just a social movement, recent research has also shown the potential for financial […]
