According to the Kresge Foundation, female leadership in hedge funds represents less than 10% of the overall industry. But nine new funds are indicative of a long-awaited change in the hedge fund industry: they are being led by women.
These women have spent their initial years in the industry earning money and fostering connections that they are now using to start their own offices. This also coincides with the investor climate that promotes diversity as a means of boosting performance.
Many of these firms have exceeded $1 billion in assets including Angela Aldrich’s Bayberry Capital Partners and Lauren Taylor Wolfe’s Impactive Capital LP. This puts them on the coveted and exclusive list of nearly 500 funds at that level.
“More investors are recognizing that day-to-day investing is about decision-making, and the science is very clear that more diverse teams make better decisions. Why would we think that every good investment idea needs to come from a White male?”–Rob Manilla, vice president and chief investment officer at the Kresge Foundation.