At the inaugural Connective Capital Consortium during the Congressional Black Caucus Foundation’s 53rd Annual Legislative Conference in Washington, DC, Marcus Mason, Senior Partner at Madison Group, shared his thesis for the event’s inception: “This first-of-its-kind Braintrust is intended to make a difference between how capital is invested and allocated. It has been proven that allocators of color have returns equal to or better than their white counterparts when given the opportunity. It is no secret that underrepresented managers can produce strong returns.”

Hosted by Robert F. Kennedy Human Rights in partnership with the Madison Group, Samsung, Silicon Valley Bank, and the Canadian American Business Council, the event convened allocators, asset managers, and activists to discuss the current landscape of DEI in the investment industry and how to best empower sustainable solutions for long-term change.

RFK Human Rights President Kerry Kennedy kicked off the event by highlighting the continuing disparities for underrepresented communities within—and as a product of—the investment industry. Drawing on her father’s iconic 1966 “Day of Affirmation Address,” she called on attendees to stand firm in the pursuit of equity: “Those with the courage to enter the moral conflict will find themselves with companions in every corner of the globe.” She also called on leaders and stakeholders in the sector to take the initiative towards shifting the status quo towards equity, “We must dramatically open up the closed society of who gets to create, grow, and pass down generational wealth.” 

Following Kennedy’s remarks, three featured panels explored the shifting tides in the DEI space, the role of empowering diverse, emerging managers, and expanding wealth allocation opportunities to Black entrepreneurs and founders. Panelists included the President of the NAACP, Derrick Johnson, the Founder and CEO of CFI Partners, Levoyd Robinson, David Brand of the City of Atlanta, and Garlin Gilchrist, the lieutenant governor of Michigan.

Panelists described the various efforts their organizations were undertaking to promote wealth-building in Black communities and other communities of color. From the U.S. Treasury’s State Small Business Credit Union Initiative that incubates Black-owned small businesses to pipeline programs that fund employment opportunities in the financial industry for underrepresented youth, innovators across sectors are working tirelessly to shift the needle towards equity. Yet, an air of restlessness hung among panelists and the audience alike throughout the panels. “We’ve had these conversations for years…” was a repeated turn of phrase met with resounding murmurs of agreement. Panelists called for collective action from governments, activists, investors, and nonprofits that “puts their money where their mouth is” to sustain and expand equity and justice for the present and future generations.

A throughline that connected each of the panels was how changemakers in the space ought to meet the moment in the face of prevalent challenges towards DEI and the shifting demographics of the nation. 

New census projections anticipate that people of color will make up the majority of the U.S. population by 2045. In this “new majority,” how can we hold capital accountable to ensure equitable growth both in asset management and broader society? Here are some actions to move us toward sustainable long-lasting change:

• Join RFK Human Rights’ Spotlight on Diversity in Asset Management event on February 5–6, 2025 in Atlanta, GA to engage further with these topics and meet an impassioned community of investors, managers and activists. Register your interest here.
• Investors should not only hold firms and funds accountable for their DEI commitments, but also actively seek out opportunities to invest in diverse, emerging managers. Despite political and private sector pushback against DEI efforts, there is clear and consistent evidence that DEI fosters innovation, enhances organizational resilience, and drives long-term success in asset management. While it may seem convenient for some to retreat from their commitments, it’s time for those who are truly passionate about building an equitable and inclusive economy to double down. Doing so is both good for business and society.
• Check out RFK Compass Investors’ 2023 Alpha Equity Survey Report to see how investors in our network are working towards their DEI goals. Data-driven approaches are key to shifting the narrative to drive investment and commitment to DEI efforts. 
• Investors should push to dismantle the structural barriers that bar access to capital for Black, Brown, and women-led ventures. This means putting pressure on key players such as external consultants, executives or board leadership and creating on-ramps for these communities to access funding.
• Invest in and partner with programs like SEO Career to access the wide pool of diverse and talented young professionals.