EBN: BlackRock said that it will change the way it handles employee complaints about issues like sexual harassment and racial discrimination, after enlisting a law firm to investigate its practices.
Institutional Investor: About a year ago, the deaths of George Floyd and Breonna Taylor galvanized a response from institutions across the investment value chain, from corporations like Google to underwriters like Bank of America and from asset managers like State Street to asset owners like Trinity Church Wall Street.
Business Wire: Blackstone announced that Devin Glenn has joined as Global Head of Diversity, Equity and Inclusion (DEI). Glenn will be a Managing Director responsible for continuing to implement policies and initiatives that will help Blackstone achieve a more diverse and inclusive workplace at Blackstone and its portfolio companies.
Investment Week: Mill Road Capital is set to roll out its Mill Road Progressive Governance fund in the second quarter of 2021, with an initial target of $500m.
Institutional Investor: All it would take for bitcoin to reach a value of $500,000 would be for institutional investors to allocate just 5 percent of their portfolios to the cryptocurrency, according to Cathie Wood.
BNN Bloomberg: Erikan Obotetukudo is starting what could be the first venture-capital fund focused on crypto startups and helmed by a Black woman.
Global Compliance News: As reported previously, developing new ESG and climate disclosure requirements (including those relating to supply chains impacts) is one of the SEC’s key priorities, and there have been indications that proposed rule-making on the issue may be imminent.
Business Wire: Apollo Global Management, Inc. (Apollo), Ares Management Corporation (Ares) and Oaktree Capital Management, L.P. (Oaktree) today announced a 10-year, $90 million, industry-first initiative, “AltFinance: Investing in Black Futures™.” The initiative is designed to diversify the alternative investment industry by attracting, training and providing career opportunities for college students attending three Historically Black Colleges and Universities (HBCUs).
BNN Bloomberg: Activist investor Jeff Smith said Exxon Mobil Corp.’s revamped board will have to deliver the changes a tiny investor promised during its proxy fight in order for that campaign to be a watershed moment for environmental, social and governance investing.
MSN Money: Investors are pouring money into assets that satisfy their environmental, social and governance demands, “extreme” inflows that have led to some froth without constituting an ESG bubble, according to Bank of America analysts.
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