A new study conducted by the Association of Asian American Investment Managers (AAAIM) in partnership with Bella Private Markets (BPM) reveals a concerning issue: institutional investors frequently overlook funds managed by AAPI (Asian American and Pacific Islander) firms when granting access to Emerging Manager programs, despite evidence of strong performance.
This is the fourth report in AAAIM’s research series and focuses on the flow of capital from institutional investors, reviewing their intentions and outcomes in supporting AAPI-owned private equity firms through emerging manager initiatives. The report finds that AAPI-owned firms are often excluded from such programs, and even when they are eligible, they are frequently bypassed. Despite various efforts to increase diversity within the asset management industry, the study demonstrates that these initiatives have had minimal impact on boosting AAPI representation.