Saludos!
We are coming to the end of our Spring Session, ready to slow down during this hot summer. In addition to the relentless Covid-19 pandemic, climate change continues to cause tremendous damage, not only in the US but around the world. We encourage all of you to please stay safe and take care of your physical as well as mental wellness during this tough season.
On the NAA side, we are pleased to share that we successfully completed our NAA 2021 National Tour Spring Session. NAA members met privately with 14 institutional investors including foundations, endowments, Taft-Harleys, public pensions, and investment consultants as part of initiatives to promote Diversity & Inclusion in asset management.
We were also honored with the presence of two national Senators, Hon. Sen. Tim Kaine from the Great State of Virginia, and from New Jersey, Hon. Sen. Robert Menendez -see REPLAY below. In addition to their thoughts and philosophy, both shared important legislation on which they are working related to D&I, ESG, and transparency and accountability in pension funds and corporate America.
A special thanks to Manuel Gonzalez Mestre, President & CEO of MGM Consulting, LLC, for his support and effort in making our hosting of these two senators' Town Halls possible. Board Member Gonzalez Mestre's involvement was instrumental in organizing these two events, and we all genuinely appreciate it.
Now, what's next! The Spring session will be followed by a Fall session from September through November 2021. Please mark your calendars for the next virtual Dealmaker Forums on September 29 and November 10, 2:00 - 3:00 PM ET.
We are getting ready to commemorate our upcoming Hispanic Heritage Month, with some very encouraging announcements. I hope you can join us in celebrating our traditions, our culture, and our powerful presence in building the very essence of the United States of America: a country built and strengthened by the contributions of immigrants.
Un abrazo, y disfruten del descanso!
Solange F. Brooks
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CIO Asset Class Connections |
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Thanks to all NAA members who participated in our CIO meetings this year, in which productive discussions and interchange of relevant information took place. Below is a screenshot of participants at the last meeting with the Service Employees International Union, with almost 2MM members in healthcare, the public sector, and property services. Interested in participating? Become a NAA member today!
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NAA Diversity Advocates
Jessie Gabriel, CEO, All-Places, Advocate for Capital Equality, Angel Investor
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2021 Fund Formation Trends: What We've Seen in the First Six Months |
One of the benefits of being a lawyer who supports fund managers, rather than being a fund manager myself, is the broad perspective I get of what’s going on in the market.
Most of our clients are either first-time fund managers or are investing in first-time fund managers, which provides me with a good view of market trends. Below are three things we are seeing at All Places when it comes to new fund formation.
Experiments with Structuring. The fund formation space is not what anyone would call rife with innovation. Most term sheets and fund documents you see look more or less the same, with some tweaks here and there. This is not without its benefits. [Continue reading...]
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Best in Class
Rodolfo Sanchez-Colberg, Managing Partner of Parliament Capital Management.
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We established Parliament Capital Management to fill a void in the lending market for Hispanic and minority businesses. Although growing in size and importance across the US, Hispanics and minorities face a significant gap in their financing options to grow and scale their ventures.
Today Parliament is an emerging and diverse private credit fund manager with $150MM in AUM and currently raising $250MM in two institutional vehicles (SBIC and non-SBIC), focusing on Direct Lending opportunities in underserved Hispanic/minority markets in the US, Puerto Rico, and the USVI.
“We’re very happy to have been able to develop this financing structure for MN Investments and help them in their plans to acquire, renovate and manage multifamily properties in a growing, expanding, yet underserved market. Our greatest satisfaction is to be able to offer Puerto Rico entrepreneurs financing alternatives that fulfill their needs and that serve to continue injecting capital into the island’s economy.”
-Rodolfo Sanchez-Colberg, Managing Partner of Parliament Capital Management.
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New Member Spotlight
Linda Igarashi, Sheppard, Mullin, Richter & Hampton LLP
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Linda Igarashi is an attorney at Sheppard, Mullin, Richter & Hampton LLP, Mullin, a full-service AmLaw 50 firm with more than 980 attorneys in 15 offices located in the United States, Europe, and Asia. She represents public and private companies, private equity firms, strategic investors, and financial institutions. Her practice encompasses mergers and acquisitions, joint ventures, private equity investments, business formation, and structuring, and general corporate governance matters. She also represents clients in cross-border transactions and is fluent in Spanish.
Prior to her legal career, Linda worked as a financial analyst with the Federal Reserve Bank and as a risk management consultant with Deloitte. Linda brings her diverse background and perspective from all sides of a transaction to successfully help her clients achieve their goals through practical solutions and balanced legal risk. Linda combines her M&A experience and relationship skills to work effectively with all parties to structure mutually beneficial transactions.
In addition to her busy client practice, Linda co-leads Sheppard Mullin’s Orange County Diversity and Inclusion Working Group. Linda is the daughter of immigrants from Mexico and Japan and is committed to promoting the advancement of the Latino community in the legal profession.
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The Blue Chip Endeavor
Cameron McKenzie, President-Elect, Puerto Rico Chamber of Commerce
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Congratulations to NAA member Cameron McKenzie, a Puerto Rican investment banker, investor, and entrepreneur, who was voted as President-Elect of the Puerto Rico Chamber of Commerce on June 26th, 2021.
The Chamber is the most renowned trade association in Puerto Rico with over 100 years of history. Mr. McKenzie stated: “It’s an honor and privilege to have been elected President of such an influential institution in such a pivotal moment in Puerto Rico’s history. I assume this role with a great sense of responsibility to improve the business environment in Puerto Rico.”
As a member of the NAA, Mr. McKenzie recognizes the importance of proper advocacy for the Latino community and views the NAA as the cornerstone for the furtherance of Latino fund managers and finance professionals. He stated: “Being a minority is one of the most difficult and competed for professions. In the quintessential role that NAA plays for the Latino community, I envision this organization playing a key role in further developing the capital markets in Puerto Rico. Latino fund managers find opportunities with Puerto Rican family businesses and entrepreneurs.”
Cameron McKenzie founded McKenzie & Associates a corporate financial advisory firm focusing on helping middle-market companies thrive through external CFO and Investment Banking Services.
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