Hi, I'm Ali Jackson Jolly. I'm here with Darren Dodson, who is CEO of Alumen Capital.

Darren, welcome and thanks for being here with us.

Oh it's great to be here.

Yeah, so you reached out to me because there was some new research you did around the growing gap in wealth management as it relates to

raise could you talk me through some of those facts that you think we should

know sure to start out with some of those facts that you think we should know?

Sure, to start out with,

looming capital is a private equity venture capital

and growth fund of funds.

So we conducted research with Stanford Spark Center and what we did is we looked at the 1.4% of 82 trillion dollars in the asset management business that women and people of color

Use in terms of the firms that they have which we thought was quite low.

So one of the things that we did is we tested 180 asset allocators for bias.

And what we found is that they were more likely to leave money on the table

than invest in high-performing black-led funds when AB tested against white-led

funds.

So that was a striking finding because that means that they're

underestimated and overlooked entrepreneurs throughout the ecosystem as well as fund managers that are not getting the capital consistent with their performance.

And when in that research did you drill down any were there any findings or lessons that we could learn about exactly how race was impacting decisions on investment or like what it was specifically about perceptions, about you know

the managers that felt like they weren't good, you know, people to invest in?

Well, the most striking finding was the higher that black managers performed,

the more bias they faced, which created an issue for those that are fiduciaries

that manage the largest pools of capital in the world, such as sovereign wealth funds or pension funds, and it sort of called

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