CHICAGO — Illinois Treasurer Michael Frerichs today hosted a Diverse Managers Forum in Chicago to help Minorities, Women, Veteran, Disabled (MWVD) owned investment firms better position themselves for business opportunities with the Treasurer’s Office and other institutional investors.
The one-day event kicked off with a panel discussion led by Frerichs that included John Rogers of Ariel Investments, Kourtney Ratliff Gibson of Loop Capital, and Martin Cabrera of Cabrera Capital Markets.
“We are proud to host today’s forum to help build connections with top- performing, diverse investment firms,” Frerichs said. “Using diverse investment firms is not only about creating growth and opportunity in our communities, but it’s integral to increasing our investment returns.”
More than 150 representatives from dozens of diverse firms attended today’s forum. In addition to the panel discussion, presentations covered how to do business with the Treasurer’s Office, which oversees the State’s Investment Portfolio, The Illinois Funds Money Market Fund, and two 529 college savings plans.
The event also included breakout sessions with the Treasurer’s investment officers and external partners, which include Union Bank & Trust, Oppenheimer Funds, 50 South Capital Advisors, and Marquette Associates.
Since taking office, Treasurer Frerichs has made tremendous strides to transform the culture, policies, and operations within the Treasurer’s Office to increase opportunities available to diverse investment firms.
In the brokerage program alone, the Illinois Treasurer’s Office has increased assets brokered by diverse firms from $603 million in fiscal year 2014 to $24 billion in fiscal year 2016.
Additionally, all Requests for Proposal (RFP) within the Treasurer’s Office now provide points in the scoring process to MWVD applicants and require firms that submit an RFP to illustrate how they promote diversity and equal opportunity.
About the Illinois Treasurer The Illinois Treasurer is the state’s Chief Investment Officer and Frerichs is a Certified Public Finance Officer. He protects consumers by encouraging savings plans for college or trade school, increasing financial education among all ages, and removing barriers to a secured retirement. As the state’s Chief Investment Officer, he actively manages approximately $25 billion. Currently, the portfolio includes $13 billion in state funds, $7 billion in college savings plans and $5 billion on behalf of local and state governments. The investment approach is cautious to ensure the preservation of principal and returns $28 to the state for every $1 spent in operations. The Treasurer’s office predates Illinois’ incorporation in 1818.
Voters in 1848 chose to make it an elected office.