New York, July 18, 2022 – MidOcean Partners (“MidOcean”), a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments, today announced the launch of the Women’s Awareness Initiative (“WAI”), a program committed to bridging the gender diversity gap in the asset management industry near term. Institutional Limited Partners Association (“ILPA”), well-recognized for engaging, empowering, and connecting limited partners to maximize their performance on an individual, institutional and collective basis, has added the program to its Diversity, Equity and Inclusion Roadmap.
Established by MidOcean Managing Director and ESG/Compliance Officer Candice Richards, WAI’s mission is to actively bring together institutions committed to advancing gender diversity in the asset management industry and demonstrate to women of all ages their possibilities for success in the space. WAI seeks to achieve this mission via workshops and programming that help women to build relationships and hone their career-related skillsets. Fulfilling the WAI pledge is simple, by design, in an effort to be inclusive by helping asset management firms – no matter their size, location, or diversity make-up – address gender diversity in the industry today, while building a supportive platform for generations of women in asset management for decades to come.
As a signatory of WAI, asset management firms commit to:
- Establish a firm-wide communications channel for female employees to foster seamless connectivity and relationship among women of all levels of the organization;
- Host an annual intrafirm women’s event to encourage women throughout the entirety of an organization to build camaraderie;
- Promote learning and discovery among younger female generations by hosting an annual women’s opportunity workshop to expose high school- and college-aged women to career paths in asset management; and
- Participate in the Annual WAI Meeting by sending a firm representative to discuss year-over-year progress and goals.
Mrs. Richards commented, “Our catalyst for establishing WAI was the realization that given our position of influence, our actions have the potential to make real change and impact in our industry and set the stage for multi-generational impact. I feel incredibly fortunate to work for a firm that has supported me throughout my career and has given me the runway to develop a framework to seek to create more opportunities for under-represented groups within the asset management industry.
“We are thrilled to have the support of ILPA and are also extremely grateful for our founding members. We look forward to welcoming many more signatories and working with firms across the industry to raise awareness of the myriad career paths available and fast-tracking access to asset management roles for a new generation.”
Founding members of WAI include The Riverside Company, Avante Capital Partners, and Churchill Asset Management.
Elena Laird, a Vice President on the Riverside Strategic Capital Fund who will serve as the WAI representative from The Riverside Company, commented, “We are excited to contribute to this important initiative because we are deeply committed to its mission. We look forward to sharing the strategies that have made The Riverside Company successful and working together to further improve gender diversity across the asset management industry.”
Apart from WAI, MidOcean has sponsored other initiatives, including Rise Up, an empowerment program supporting and inspiring women leaders at MidOcean’s portfolio companies; the Quarterly Women’s Breakfast Club series hosted in partnership with Churchill Asset Management; a Women’s Activation Movement whose focus is to provide tools and resources for women professionals at MidOcean to build their seat at the table; and Women at MidOcean, an internal affinity group committed to helping both employees and women from the broader community develop key skills and acquire new relationships through industry events and networking.
To learn more and take the WAI pledge today to pave the WAI for multi-generational impact, visit MidOcean: WAI.