African-American hedge fund managers
For all of the hedge fund guys out there, can you guys tell me why do you think their are almost no black or African Americans in the hedge fund industry; not to mention any hedge fund managers at all? Is this an industry that blacks just do not apply to? Thanks.
Brown capital.
Brown Capital is not a hedge fund company.
Not a HF guy, but check out John Rogers of Ariel Investments.
yeah I've heard of Aeril Investment John company is not a hedge fund company.
bump
what does that mean?
Pipeline is incredibly thin. Not very many black people in investment banking/ other feeder proportions. In general this will lead to worse representation as you move up in terms of industry selectivity
The hedge fund industry is itself a niche industry within financial services. Plain and simple the biggest obstacle is access and opportunity, something that very African Americans within financial services are afforded. There are only a small handful of Black hedge fund managers who have the ability and necessary experience to attract investment. Even those qualified cannot necessarily attract funds from a beneficiary pool that will allow them to grow, especially for a space that has contracted as many firms have closed since the recession. There are people like Robert Smith, Robbie Robinson, Robert Johnson that have had great success in alternative investments that have shown success but few have been able to scale to that level of investments within the hedge fund space yet.
Do you believe that this is subject to change, especially if more African Americans become interested in the hedge fund industry?
Short-term: NO Long-term: maybe
Every time I hear a big bank talk about diversity I still want to gag as the statistics are not supporting the inclusive message. I got lucky as I was exposed to the industry during high school but I cannot say the same for a lot of my peers and community.
Do you think First Name: Robert, Last Name: Insert Generic Here is necessary for success as a black man?
JDWade Thanks for your thoughtful answer,
http://www.institutionalinvestor.com/Article/3462069/The-2015-Hedge-Fun…
Thanks Monkeysee_monkeydo Troy Dixon I will research him.
Not a hedge fund, but still a professional investor: Robert F. Smith of Vista Equity Partners, which is a PE/VC type of firm. He is the 2nd richest black American right after Oprah from what I have read.
Well gee, this isn't a loaded question or anything.
Lmao no one is going to just make HF's more diverse; it's built on talent. If the black guy is better, then by all rights he should get the role and stay in the role. If not, he shouldn't. It has nothing to do with race.
Very true. It's all about who makes money at the end of the day.
td12 no not a loaded question; just curious about the hedge fund industry and are we (African Americans) do we have a presence at all working with some of the big hedge fund firms or if any Blacks have started their own Hedge funds.
Guys what about Buddy Fletcher? The guy gave $50 MILLION to Harvard? He must be a genius
http://www.nytimes.com/2004/05/18/nyregion/50-million-gift-aims-to-furt…
lol i think i remember this guy is elaine pao's husband, that woman who was the reddit ceo and complained of asian discrimination and then maybe lost the law suit or something?
i think that buddy fletcher also lost a discrim suit haha, man they are just so oppressed :(
Statistically speaking black people make for far less of the population, and the percentage that attend college is even lower. I would say go out and be the first. If you have the right credentials you will not be disqualified due to your race. Go out and make a name for your self no matter what firm or the ethnicity of the manager.
Honestly?
White privilege. It sucks.
I'm not sure why it matters. Black are under repped in banking. OF COURSE they are under repped in the most elite investment vehicles. Of the 2% of black people who have the intellectual capacity to succeed there, how many were educated at top schools, did time at top tier BB, got AM/HF exposure, and can raise enough cash to launch a fund.
This guy is rich and runs money in Austin FYI https://www.forbes.com/sites/danielfisher/2015/09/29/meet-the-african-a…
What is that supposed to mean? The "2%" of black people. Not sure if it's what you meant but you seem to imply that black people aren't as smart and can do the job properly.
Black people at top schools are not going into high finance as there just isn't an interest there. The majority are interested in STEM fields and therefore you'll find a greater number of black people there. Literally is an issue of having a legitimate interest in the field and working hard to get to that point.
Lmao we have the PC kid over here. It's not about black people being intellectually inferior (they're not at all), but at that age (24), a huge percentage of these kids haven't even completed college, let alone a stint at an investment bank. Yes, this is due to systemic oppression, but yes also, these guys don't have the intellectual capacity to succeed here. Put a white guy under shitty conditions and he would be just as poor a candidate. It has nothing to do with race, don't flip on everything like a snowflake when it's very clear what HazelJ is trying to say
Was considering this the other day. Though yes, would agree with the general sentiment here. Looking at many of the most senior successful black folks on Wall Street, many have stayed in the relationship management/investment banking side of the business rather than the markets/trading side of the business (vernon jordan, bill lewis, ray mcquire, etc.) Additionally, HF talent takes time to develop, and since banks have only recently begun adding "serious" diversity initiatives to recruiting, we still need time to see if the budding analysts at banks and those who've crossed as associates into PE will turn towards the HF space, stay in banking, or do PE (where folks like Robert Smith and Frank Baker are doing really well). Black people make up an extremely small % of people going into banks and when you think of how small a % of kids at banks become hugely successful at HF's, it becomes clear why we're so underrepresented in the industry.
I know he is not in HF but in PE but surprisingly I did not see a mention to Adebayo Ogunlesi of GIP. He is a beast.
Et delectus quo dolore quasi aliquam nobis. Tempore atque consequatur aperiam assumenda eum.
Alias maxime dolorem atque qui provident qui. Iusto enim nesciunt vitae doloribus illum. Sit autem dolorem maiores cumque.
Inventore molestias sit id tenetur nesciunt. Libero labore ut necessitatibus ratione recusandae quibusdam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Vero est libero est quas veritatis numquam. Quia odio et aut nulla sed qui. Molestias labore iste distinctio ratione in rem.
Provident adipisci et recusandae quia aspernatur aut. Earum deleniti expedita sed doloremque amet ut. Dolore deleniti aut illo et. Dignissimos exercitationem veritatis voluptatem quibusdam quasi. Tempore perspiciatis sunt maxime illo aut numquam.
Voluptatibus sed quas velit enim nulla dolor voluptatibus. Quia unde ipsa iure sit ea.
Quaerat aliquid vel nostrum excepturi accusantium rerum similique. Esse ullam culpa rerum suscipit.