An Investor Wants Wall Street to Get Serious About Gender Equality
ByVerger Capital asks hedge funds about policies on pay and harassment.
Your average hedge fund or venture capital shop might not care if it’s run like a boys’ club. But what if the funds’ biggest clients were to start paying attention?
Consider Verger Capital Management, which oversees $1.7 billion for nonprofit investors, most notably Wake Forest University’s endowment. It recently surveyed the 89 outside money managers it hires about their investment policies when it comes to environmental, social, and governance issues, or ESG. Think fracking or guns. Although Verger isn’t necessarily screening all such businesses out of its portfolio, it sees them as a potential source of risk. “We don’t want to be the moral police,” says Chief Executive Officer Jim Dunn. “We just want to understand what’s in the portfolio right now.’’
An Investor Wants Wall Street to Get Serious About Gender Equality
