LPs are taking the initiative to enforce or encourage diversity at PE firms, and PE firms are doing a lot of window dressing to impress them. I have not seen any mention of what impact some horrible abuses at some PE firms have outside these firms. If LPs knew of habitual and systemic abusive practices at a MF, e.g. savage treatment of associates, personal humiliation, extreme bullying, and terroristic threats of literally destroying careers etc, would they pull their money from such firms, or at least limit what they invest? It seems that unless there are consequences for such firms, they feel they can carry on with incredible abuse with impunity, especially some very senior guys at the top funds who feel they are untouchable.
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The LP mandate is not social impact, policing D&I, etc. Their mandate is maximizing returns.
This is not Team America World Police. The performative acts of social improvement that you see are merely that: performative.
LPs are getting involved in enforcing diversity....an abusive culture should be of equal concern to them. Why would they not want to discourage the persistence of extreme abuse by using their financial leverage?
if the abuse is criminal, get documentation and file charges.....otherwise....nobody cares
Grow a pair dude
^ ...says the ponce with gonadal involution. LOL
Used to work at a fund allocator.
Funds would pitch their up or out culture and how they fired people who led bad investments. Diversity is a different point. Everyone gets a chance but not everyone stays.
Things need to be really bad (ie; likely sexual harassment level) for LPs to give up sponsors that drive their return allocation targets.
As an associate at a PE fund, you often out earn everyone at the pension fund except the CIO. They know that as well, and often have 20+ years of experience, so definitely unfortunately aren't that sympathetic.
MFs are equal opportunity abusers OP. They don't care what race or gender you are, they abuse everyone equally. You're conflating two very different issues.
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