Cambridge Associates Achieves 2025 Diverse Manager Investment Goal Three Years Early
Investment firm continues to progress DEI by increasing its 2025 AUA commitment
BOSTON, March 31, 2023 – Global investment firm Cambridge Associates announced today that it has met a goal it set to double investments with diverse managers three years earlier than targeted. Diverse managers are defined as firms that are a minimum of 33% owned by women and people of color.
While women and people of color make up more than 10% of the asset management universe, they hold less than 2% of the industry’s invested assets. In 2020, Cambridge Associates made a five-year-commitment to double its then 5% of assets under advisement invested with diverse managers to create parity between representation and AUA. Upon meeting that goal after just two years, the firm has increased its 2025 diverse manager investment target to 15% of total assets under advisement.
“While our new goal for 2025 may seem aspirational to some, we believe making progress towards systemic change requires bold action. Increasing the assets that are invested with women and people of color requires intentional decisions to re-examine all aspects of the investment process to achieve this more equitable goal,” said Jasmine Richards, Head of Diverse Manager Research at Cambridge Associates. “The work is never complete, but when investment decisions can be grounded in more equitable processes they can ultimately drive toward the most positive outcomes for everyone.”
There were three driving forces that propelled Cambridge Associates to meet its diverse manager goal on an accelerated timeline. Most notably was the intentionality of the firm’s diverse manager research team, which worked to fully integrate diversity measures throughout the due diligence process and committed to sourcing and evaluating a larger funnel of opportunities. It wasn’t until this intentionally intersected with an increase in client demand for, and willingness to invest in, diverse managers that meaningful momentum took shape. Sixty-two percent of Cambridge Associates’ clients hold investments with diverse managers, and a recent survey of clients across the US, Europe and Asia identified social equity (including gender and race) as a top driver for impact investing capital. Increased GP data transparency also helped make achieving this investment goal possible.
“We believe that inclusive teams make better decisions, demonstrate greater collaboration, bring forth bolder ideas, and drive better financial and investment outcomes,” said Melinda Wright, Global Head of Diversity, Equity and Inclusion at Cambridge Associates. “To support these beliefs, we take on two roles: acting both as excellent stewards of long-term capital, and also as champions of change and opportunity. We are extremely proud of the work and progress we have made and know that much of what we have accomplished is a credit to the passion of our employees, and the trust and partnership of our clients.”
Cambridge Associates is committed to making the firm a great place to work while helping clients deliver on their values. For more information on the firm’s internal and external DEI progress over the last year, visit the newly released 2022 Diversity, Equity and Inclusion Report.
About Cambridge Associates
Cambridge Associates is a global investment firm. The firm aims to help pension plans, endowments & foundations, healthcare systems, and private clients implement and manage custom investment portfolios to generate outperformance so they can maximize their impact on the world. With 50 years of institutional investing experience, the firm has helped to shape and implement investment best practices and built strong global investment networks with the purpose of driving outperformance for clients. Cambridge Associates delivers a range of services, including outsourced CIO, non-discretionary portfolio management, staff extension and alternative asset class mandates.
Cambridge Associates currently maintains offices in Boston; Arlington, VA; Beijing; Dallas; Hong Kong; London; Munich; New York; San Francisco; Singapore; and Sydney. Cambridge Associates consists of six global investment affiliates that are all under common ownership and control. For more information, please visit www.cambridgeassociates.com.
Director of Global Public Relations
 Assets under advisement (AUA) includes clients worldwide that utilize the firm for portfolio advice or management and receive performance reporting from Cambridge Associates.