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The latest news and updates from NAIC, the largest network of diverse-owned private equity firms and hedge funds.
NAIC E-News Update

The Largest Network of Diverse-Owned Private Equity Firms and Hedge Funds


NAIC Selects Fund of Funds to Deploy Capital to Invest in Diverse-Owned Businesses and Communities

NAIC announced it has selected five firms that will facilitate raising and allocating billions of dollars of growth equity capital to drive scale and enhance innovation in ethnically diverse and women-owned business enterprises (DWBEs). The selected firms are:

  • Barings Alternative Investments
  • GCM Grosvenor
  • Muller & Monroe Asset Management
  • Neuberger Berman Private Equity
  • The Rock Creek Group

Made possible through a grant from the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce, the NAIC Minority Growth Equity Funds Initiative was launched in October 2019 to support job-creation and foster innovation and growth for diverse enterprises by providing much-needed access to capital while also identifying viable opportunities for growth investors.


NAIC Perspectives: Knowing the Process

What will it take to increase the level of diversity on public plan trustee boards? In this installment of Perspectives, NAIC's online video series, Jarvis V. Hollingsworth, Chairman of the Teacher Retirement System of Texas (TRS), explains some of the processes keeping many diverse candidates out of the running for these appointed positions and how preparing the next generation of professionals to enter the pipeline can lead to increased representation.


Buy and Build: WM Partners and its Strategy for the Health & Wellness Sector

The health and wellness space is performing well thanks to a growing consumer trend that seems to buck the current state of the financial markets. In this Member Focus, we profile Fort Lauderdale-based WM Partners, which acquires lower middle-market companies in the natural consumer health space. In the article, we detail its investment strategy and share its origins, from the early days of raising Fund I and its initial acquisitions to its more recent deals. We also highlight the firm’s 2018 sale of its first nutritional supplements platform to Clorox Company for $700 million.


NAIC Welcomes Graham Allen Partners and Asland Capital Partners!

NAIC proudly welcomes Graham Allen Partners and Asland Capital Partners! A South Bend, Indiana-based private equity buyout firm, Graham Allen Partners ( is focused on value appreciation through the digital transformation of traditional lower middle-market businesses based in secondary and tertiary markets like the Midwest. Since 2011, Graham Allen Partners has established three platform businesses focused on the healthcare and data solutions space as an independent sponsor.

Founded in 2019 in New York City by James H. Simmons III, Asland Capital ( is a private equity real estate investment firm specializing in multifamily, mixed-use and retail investments designed to revitalize sub-markets throughout the U.S. that improve communities and enhance the lives of their residents.


Fairview Capital Partners Launches New Video Series

NAIC member firm Fairview Capital Partners has launched "View," a new video series that provides deep and authentic insights into relevant and timely topics for not only Fairview’s stakeholders but also the broader investment community. "View" offers unique access to industry leaders and experts in an engaging, conversational dialogue.

The first installment of "View" features a discussion between Roy Swan, Director of Mission Investments at the Ford Foundation, and Larry Morse, Ph.D., Co-Founder and Managing Partner of Fairview. A leading private foundation with a mission of advancing human welfare, the Ford Foundation has been driving its mission for more than 80 years by supporting organizations working toward social and economic equality, poverty reduction and urban development.

Swan shares his thoughts on diversity in the industry, investing with diverse managers, advice for other foundations and diverse managers, and much more.


Investigative Services Available from ICV Partners Portfolio Company, Mintz Group

NAIC member firm ICV Partners announced that comprehensive background checks, detailed fact-gathering, thorough internal investigations and other related services are available to the NAIC network through its portfolio company, Mintz Group, a global provider of investigative services. Mintz Group helps institutional investors, multinational companies, litigators and executive search firms gather and understand facts all over the world at three key points in time: before they form new relationships, during disputes and after various allegations, such as fraud.

Headquartered in New York City, Mintz Group has 280 investigators in 15 offices across eight time zones. The Mintz team speaks more than 30 languages and has successfully conducted over 10,000 investigations in more than 100 countries. To learn more, please contact Zack Henry, Managing Director, Business Development, at [email protected], 1-212-489-7100, or visit


Connect with NAIC on Social Media!

Stay up-to-date on the latest news from diverse-owned private equity firms and hedge funds, news-making deals, NAIC announcements, interviews with high-profile insiders and other industry happenings by following us on social media.


DPI Invests in Leading Tunisian Tomato Processing and Agribusiness

Development Partners International (DPI) announced it invested $56 million into Société Industrielle des Conserves Alimentaires (SICAM), a leading food business and tomato processor in Tunisia. Established in 1969, SICAM is the leading producer of canned tomatoes, pepper pastes, and jams. It is one of the most recognized brand names in Tunisia’s food and agri-industry, with a strong track record of delivering quality products to its customers. Wholly owned by the Bayahi Group, a leading Tunisian conglomerate, SICAM has quickly become the fastest-growing player and market leader of the sauces and condiments segment in Tunisia, in part driven by its strong relationships with the local farming industry, enabling it access to consistent tomato harvests.

Mill Point Capital Portfolio Companies Announce Acquisitions

Aero Operating LLC, a portfolio company of Mill Point Capital, announced its acquisitions of Lawn Butler, a Centerville, Utah based landscaping and snow removal company; Groundtek of Central Florida, an Ocoee, Florida based landscaping company; and The Shepherd’s Landscaping, a Belleview, Florida based landscaping company. Concurrently, Aero Operating LLC announced that it has re-branded as Outworx Group, representing the company’s full-service offerings focused on the Exterior Facilities Maintenance market. Outworx Group owns the largest fleet of proprietary snow melters in North America and employs a highly experienced team to support its customers across all phases of snow removal operations.

Separately, Pythian Services Inc., another Mill Point portfolio company providing cloud, data and analytics services, announced that it acquired Agosto, LLC, a Google Cloud Premier Partner and leading cloud services and development company. Founded in 2001 and headquartered in Minneapolis, Agosto is an award-winning cloud services company and one of the largest and most innovative Google Cloud Platform Partners in the world with specializations in IoT, Infrastructure, Application Development and Work Transformation-Enterprise. The company helps organizations leverage Google Cloud products by providing technical solutions, change management and training, migration and deployment from legacy systems, ongoing admin support, and custom product development.


Grain Management Appoints New Investment Team Member and Adds to its Advisory Board

Grain Management, LLC, announced that industry financier and operator Ricardo J. Rodriguez has been named a Principal on the firm’s Investment Team, broadening the platforms origination, execution, and value creation engine. Grain also announced that it has named Stephanie M. Phillipps as a Senior Advisor on the firm’s Board, which now includes six members. Before joining Grain, Mr. Rodriguez was President and CEO of Spirit MTA REIT (formerly NYSE: SMTA), where he managed day-to-day strategy and execution of a successful sale transaction to Hospitality Properties Trust. Ms. Phillipps is a communications veteran who, during her time as a Partner at Arnold and Porter, advised wireless, cable, satellite, media, and internet service providers on a broad range of transactions, mergers and acquisitions, real estate, corporate governance, and regulatory issues. Ms. Phillipps retired from her legal career in 2019 before joining Grain Management this year.

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