LENOX PARK BUILDS ASSET MANAGER DIVERSITY BY DEMOCRATISING CAPITAL
Lenox Park gives asset managers techenabled route to diversity and inclusion with benchmarking insights and collaborative networks that democratise capital
Asset managers as a corporate cohort have seen very little diversity over the years , reporting in a study that only 1.4 % of total USbased assets under management is managed by diverse-owned firms , and patience with such a glaring disparity is running out .
Lenox Park Solutions lets asset allocators assess the diversity , equity , and inclusion ( DEI ) impact of their capital . The platform has over 2,200 registered organisations , 1,200 asset managers , and represents US $ 6 trillion in assets under management .
“ If you ask the average allocator of capital ‘ How did you find your best managers ?’” says Founder and CEO Jason Lamin , “ The likelihood is they found that manager through their peer group .” So , Lamin made an unbiased solution for potential partners to find each other .
Part of that solution is collaborative dealmaking platform RoundTables . Lamin says “ RoundTables was built on a premise that like-minded decision-makers tend to collaborate with each other and prefer to knowledge-share among their peers . So we created a tech-enabled platform that empowers those individuals to collaborate efficiently in a safe space .”
DRIVING DEI THROUGH KEY PARTNERSHIPS
One key partner has been JPMorgan Chase , which joined as a Founding Member as part of its own DEI initiatives .
“ We are generating value for them ,” says Chief Operating Officer Amber Kizilbash . “ But we are also leveraging the broad spectrum of services and partnerships they can provide to a company like ours , at this phase in our growth cycle ; and the phases ahead of us .”
For Lenox Park , the intentionality of seeking out diversity will be crucial to future business .
“ At the U . S . National level there ’ s about US $ 70 trillion of wealth that is going to be transferred to the next generation by 2045 ,” says Kizilbash . “ When you think about the next generation of leaders that are coming from this diverse millennial economic power , research suggests no other generation has been more focused on impact , and inclusion is one of the single most important values for them .”