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Can buyout giants turn words into action on diversity?

In the aftermath of the death of George Floyd, financial services has joined other sectors in calling for greater racial equality. But the industry’s track record on diversity is still lagging

Can buyout giants turn words into action on diversity?
Photo: Getty Images

Private equity firms have joined other businesses in calling for greater racial equality in the wake of protests in the US and elsewhere. But what are buyout groups actually doing about the issue?

Financial News's sister publication Private Equity News contacted 12 large, global PE firms to ask about their plans to promote greater diversity within their firms and at their portfolio companies. Two – KKR and Apollo – referred to materials they had already published on the topic, while seven others either declined to comment or did not respond in time for publication. Only three got back to us with answers.

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