The Institutional Limited Partners Association (ILPA) has announced that it has created a Diversity & Inclusion (D&I) Roadmap for the global private equity (PE) sector. The online publication comprises best practices that both general and limited partners can adopt to advance D&I at their own organisations, as well as throughout the PE ecosystem.
The initial listing of more than 30 best practices and 100-plus resources was provided by the ILPA’s D&I Advisory Council, as well as other PE stakeholders including fund managers, investors and industry associations, confirmed the industry body.
“Over the last several years, we have seen many organisations take substantive steps to improve diversity and promote inclusion within our industry,” stated Steve Nelson, Chief Executive Officer of ILPA. “The ILPA D&I Roadmap should serve as clearing house of information, where industry participants can share ideas and insights, and learn from the experiences of others.”
MAXIMISING COLLECTIVE IMPACT
The publication “offers a baseline of practices which ILPA intends to grow over time with contributions from the full range of industry stakeholders in order to promote these important ideals and maximise the collective impact”, added Nelson.
The ILPA D&I Roadmap is organised into five categories of action, which support an organisation’s ability to:
- Demonstrate Organisational Support for D&I
- Attract and Promote Diverse Talent
- Build and Sustain Inclusive Cultures
- Apply D&I to Investment Strategy
- Measure & Benchmark Progress
Each best practice category is also accompanied by a list of resources that supports the practice’s implementation.
SHARING BEST PRACTICE
Although the Roadmap primarily focuses on D&I efforts for the PE industry, many of its suggested practices are applicable to the broader private markets, according to ILPA.
The industry body hopes the roadmap will provide an ongoing source of up-to-date, actionable information for PE firms. It also encourages all stakeholders in the PE industry, and those operating in other private markets, to explore the best practice guide and contribute to the effort by sharing their own initiatives/resources – so “everyone can learn from each other’s experiences”.
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