Diversity in Action Initiative

The ILPA Diversity in Action initiative brings together limited partners and general partners who share a commitment to advancing diversity, equity and inclusion in the private equity industry. The goal of the initiative is to motivate market participants to engage in the journey towards becoming more diverse and inclusive and to build momentum around the adoption of specific actions that advance DEI over time.

GPs and LPs who join the Diversity in Action initiative commit to specific actions that advance diversity and inclusion, both within their organization and the industry more broadly. Diversity in Action signatories currently undertake four essential DEI actions and at least two additional actions (from an optional set of nine). The Diversity in Action framework includes a broad range of possible actions that span talent management, investment management and industry engagement.

All of the actions prioritized within the Diversity in Action framework are drawn from ILPA’s D&I Roadmap, a clearinghouse of best practices and resources for GPs and LPs to consider at each stage of the development and implementation of their own DEI programs. LPs and GPs who have signed onto the Diversity in Action Initiative may also suggest specific practices and resources for inclusion in the roadmap.

For questions or additional information, please email diversity@ilpa.org.

The Framework

Participating organizations agree that their diversity, equity and inclusion actions include a combination of foundational and optional activities as indicated below:

Become a signatory by sharing elements of the framework that your organization has in place

Answers to frequently asked questions about the diversity in action initiative

  • Has in place a DEI statement or strategy, communicated publicly, and/or a DEI policy communicated to employees and investment partners, that addresses recruitment and retention*
  • Tracks internal hiring and promotion statistics by gender and race/ethnicity**
  • Has in place organizational goals that result in demonstrable practices to make recruitment and retention more inclusive
  • Requests (LPs) or provides (GPs) DEI demographic data, e.g., ILPA Metrics Template, for any new commitments (LPs) or new fundraises (GPs)

* In addition, participating organizations should address harassment, either within the DEI policy or within a separately articulated policy or statement.

** At a minimum, gender data. Racial/ethnic data to be provided in jurisdictions allowing for the capture and reporting of such information.

  • Tracks gender and race/ethnicity statistics within partner organizations (LPs: managers; GPs: portfolio company boards/management teams)**
  • Has assigned senior-level DEI accountability, aligned with an investment or senior management role
  • Provides unconscious bias training for employees on an ongoing basis
  • Has in place diverse employee resource groups
  • Incorporates contributions towards advancing DEI into employee performance reviews
  • Commits to encourage and promote diversity within boards of directors at portfolio companies
  • Requests (LPs) or provides (GPs) DEI demographic data, e.g., ILPA Metrics Template, for all funds, i.e., not solely new commitments/new fundraises**
  • Supports DEI research in the private markets industry by participating in surveys that capture data on diversity in the workforce
  • On a programmatic basis, supports industry efforts to educate underrepresented groups about careers in private markets

** At a minimum, gender data. Racial/ethnic data to be provided in jurisdictions allowing for the capture and reporting of such information.