Challenge
Women and minority groups face significant institutional barriers to entering and advancing in private equity. Women represent just 9.4% of senior positions in PE while racial and ethnic minorities account for just 6% of PE partners.
Solutions
HGGC started by collecting and assessing its workforce data by using Diversio’s technology. Recognizing its challenges with regards to diversity in leadership, HGGC committed to building the pipeline from within and investing women and employee from minority backgrounds.
“It’s no secret that the investing world is behind when it comes to diversity & inclusion. We are determined to change this reality, starting with our own firm. Through this partnership with Diversio, we are assessing both our internal workplace as well as our portfolio and identifying concrete steps for improvement and growth. It won’t happen overnight, but we are excited to be on this journey and commit to setting the new standard for diverse & inclusive investing.” – Partner and CFO, Lance Taylor
Advancing Diverse Talent into Leadership
By leveraging Diversio’s artificial intelligence to assess employee sentiment, HGGC was able to identify key priority areas and make meaningful changes:
- Creating a dedicated committee centered on DE&I
- Rolling out a sponsorship/mentorship program for its junior staff with a special emphasis on mentors for women and minority group
- Launching a summer internship program that serves diverse and minority candidates
