MIAMI--(BUSINESS WIRE)--DFD Partners, a data-driven tech platform and marketplace that connects unique, diverse and differentiated asset managers with a product fit to allocators and advisors with a product need, is pleased to announce a distribution partnership with The Center of Innovation for Diversity, Equity and Inclusion (DEI) in Finance (IDiF). DFD Partners’ tech-driven platform will provide IDiF with additional resources to contribute to their goal of driving equitable access to capital to accelerate economic justice, power and influence.
IDiF is a nonprofit 501(c)(3) and a collective of 1,000-plus changemakers, innovators and leaders, including asset owners, asset managers, public and private institution trustees, financial services providers, investment consultants, academics and regulators. These individuals are joined by a shared vision of championing the importance of inclusion by breaking down structural and systemic barriers, and driving impactful DEI strategies in the financial services industry. Just 1.4% of total U.S.-based assets under management are managed by diverse-owned firms, according to a Knight Foundation study. That same Knight study found that there was no statistically significant difference in performance between diverse- and non-diverse-owned funds across any asset class.
“Core to the mission of IDiF is advocating for and amplifying innovations that address barriers to entry and access to institutional capital,” said Rodney B. Herenton, founder and co-CEO of Channing Capital Management, LLC and member of IDiF’s board of directors. “My business partner and I founded Channing Capital Management in 2003. It has been a long and arduous road to raising capital since our initial seed of $70 million in AUM. As a DFD client, we received touchpoints with more than 100 institutional investors in a fraction of the amount of time. As a director at IDiF, I am thrilled to see the organization partner with a platform like DFD, as we both share the belief that by leveling the playing field in asset allocation, we will create more leaders who exponentially elevate their communities.”
DFD Partners is dedicated to providing a tech-enabled platform for asset managers who don’t have the tools and resources to effectively scale, and was founded on the premise that diversity in gender, background, generation and asset class drives inclusion. The firm also recently launched its BIG Initiative, which seeks to raise $1 trillion among diverse managers to bridge the investment gap by 2030, and works to highlight talented managers who cannot effectively compete in today’s environment.
“We are excited to partner with IDiF, exposing our clients to the vast educational resources that their collective offers,” said Devon Drew, chief executive officer and chief investment officer of DFD Partners. “Our DNA is aligned with their mission, and we are looking forward to a long-lasting relationship.”
In partnership, IDiF will invite asset managers across asset classes to apply to the DFD platform to receive one year of DFD services at no cost, with the option to opt in formally after one year. DFD Partners and IDiF and will mutually collaborate on the approval of three selected asset managers in an equitable and inclusive manner.
“This paves the way for us to have an opportunity to engage in a segment that is only going to grow with shifting demographics,” said Bilal Little, president of DFD Partners. “As wealth continues to expand, service providers, technologies and investment options become more important. Partnering with IDiF ensures structural support for the next generation of investors.”
To learn more about DFD Partners, please visit DFD.ai.
About DFD Partners
DFD Partners is a SaaS platform and marketplace, which leverages data and AI to support asset managers who are looking for cost-effective scale.
About IDiF
IDiF is a non-member, nonprofit organization driving equitable access to capital to accelerate economic justice, power and influence. We are a collective of changemakers and innovators committed to advancing inclusion by breaking down structural and systemic barriers in the financial services industry.
Learn more at www.idif.org.
