WASHINGTON, Aug. 10, 2020 /PRNewswire/ -- The Pacific Pension & Investment Institute (PPI), which convenes global pension and investment leaders representing over $25 trillion in assets under management, advisement and administration, and the National Association of Investment Companies (NAIC), the trade association and largest network of diverse-owned private equity firms and hedge funds, jointly announced today that they have signed a Memorandum of Understanding to connect members of PPI with some of the best performing firms in America, pursue strategic partnership opportunities, and increase diversity and inclusion in the global institutional investment industry.
Under the terms of the Memorandum, PPI and NAIC will co-develop thought leadership content, share branding and cross-marketing opportunities, coordinate joint events, and facilitate transformational dialogue between PPI's network of global capital allocators and NAIC leadership. The agreement brings added membership value to both networks by leveraging PPI's expertise in the global marketplace and its robust network of institutional investors and NAIC's leadership position in the alternative investment manager space.
"We are thrilled to be entering into this partnership with NAIC, especially at this critical moment for our industry and society as a whole," says PPI President Lionel C. Johnson. "The range of perspectives inherent in PPI's global membership complement those of our NAIC colleagues in the ongoing conversation on diversity and inclusion. The time is ripe for introspection that could lead to lasting change which will strengthen the industry today and for future generations."
"NAIC is excited to partner with such a well-respected industry leader as Pacific Pension & Investment Institute and facilitate greater access and understanding between some of the leading institutional investors and the extraordinarily talented diverse asset managers represented in our membership," says Robert L. Greene, NAIC's President & CEO. "With diverse-owned firms managing only 1.3 percent of the investment industry's $69 trillion in assets despite superior performance, collaborations such as this can help increase diverse representation in a substantive way."
About PPI: Pacific Pension & Investment Institute (PPI) convenes global pension and investment thought leaders for in-depth dialogue and knowledge sharing on issues facing long-term institutional investors in Asia and the Pacific Rim. PPI has held forums for well over two decades that inform the investment decisions of the world's major institutional investors, whose decisions impact the prosperity and security for hundreds of millions of beneficiaries and stakeholders today and for future generations.
About NAIC: Celebrating 50 years of advocacy and performance, the Washington, D.C.-based National Association of Investment Companies is the trade association for and largest network of diverse- and women-owned private equity firms and hedge funds. NAIC's membership is comprised of more than 90 firms that collectively manage over $165 billion in institutional assets.
SOURCE National Association of Investment Companies