Nasdaq Working with ILPA and FCLTGlobal to Ensure Data Standardization
NEW YORK, Nov. 09, 2021 (GLOBE NEWSWIRE) — Nasdaq has today announced that it will collect and make its private fund manager diversity, equity, and inclusion (DEI) data available for investors free of charge via the Nasdaq eVestment platform in an effort to improve transparency and disclosure standardization across the industry. The data will be available starting on February 16, 2022.
Nasdaq has worked with the Institutional Limited Partners’ Association (ILPA) and FCLTGlobal to ensure its data collection aligns with ILPA’s newly published Diversity Metrics template, and respective guidelines published by each group. By aligning to these industry standards for private fund manager DEI data, Nasdaq aims to reduce barriers to information being shared and in turn increase ease of access and transparency for asset owners into the DEI efforts of private fund managers.
Private fund manager DEI data will be accessible to qualifying institutional asset owners within Nasdaq eVestment’s private markets database, which includes profiles on more than 6,000 private fund managers detailing investment strategy, fund performance and more.
“Fund managers have experienced significant challenges in trying to comply with requests from investors asking for different data points in varying formats,” said Katey Bogue, Vice President and Head of Nasdaq Private Fund Solutions. “We first need to remove that friction and then we can support meaningful changes through accurate and reliable data. Through our collaboration with ILPA and FCLTGlobal we hope to provide an efficient and streamlined framework for DEI disclosure and enhanced transparency for the investment community.”
Private fund managers are invited to provide their data to Nasdaq’s eVestment platform beginning today, to ensure their firm is accurately represented prior to access being granted to qualifying institutional asset owners. In line with the templates published by ILPA and FCLTGlobal, Nasdaq’s eVestment platform will collect and make available information on:
- Diversity metrics for investment company firm ownership, investment committee and professionals.
- Aggregated diversity metrics for board and senior management of private funds’ portfolio companies.
Diversity dimensions include gender, race/ethnicity and identification as LGBTQ+, veterans and persons with disabilities.
“We’re thrilled to see Nasdaq adopt the designations and structure of our Diversity Metrics template into their DEI data collection initiative and to also take a significant step in driving transparency into the level of progress the industry is making around diversity,” said Jen Choi, Managing Director of Industry Affairs, ILPA. “Ensuring consistency of how information is communicated across the industry by aligning with the guidelines we and FCLTGlobal have published will also have a positive impact on the empowerment of limited partners, which we’re always pleased to support.”
Nasdaq’s collaboration with ILPA and FCLTGlobal underscores the demand from asset owners to understand the state of DEI across their entire portfolios – both public and private markets strategies. Today’s announcement is an expansion of the DEI initiative announced in June to provide investors with free access to traditional asset manager and hedge fund manager DEI data through its eVestment database. To read more about that effort, please click here.
To learn more about this initiative, register for access to the dataset or submit your firm’s information, visit https://privatemarkets.
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eVestment, part of Nasdaq, provides institutional investment data, analytics and market intelligence covering public and private markets. Asset managers and general partners reach the institutional marketplace through our platform, while institutional investors and consultants rely on eVestment for manager due diligence, selection and monitoring. eVestment brings transparency and efficiency to the global institutional market, equipping managers, investors and consultants to make data-driven decisions, deploy their resources more productively and ultimately realize better outcomes.
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