Diversity in Limited Partner Investment Teams

Following our previous research into diversity within Limited Partner investment teams, this report provides a current indication of gender and ethnicity representation within LP firms with presence in the UK.

Data for this study was collected via an online survey sent to UK Private Capital members and non-member firms with physical presence in the UK. Data was requested on all investment team members who spend over 50% of their time working on private capital investment.

The research was supported by a steering committee comprised of representatives of prominent Limited Partners and industry organisations, including Level 20 and Diversity VC.

LPs were invited to provide data on gender and ethnicity representation by seniority within their investment teams, and to provide detail of any diversity, equity and inclusion initiatives they are engaged in. For the first time in our LP diversity research series, the survey also asked whether firms collect data on employees’ socio-economic background. While this data is not yet reported, tracking how widely firms are beginning to adopt this practice is an important step towards further research and gaining a deeper understanding of diversity in the industry.

The study included a focus group discussion, inviting LPs to share their insights and experiences on various topics related to diversity, which proved invaluable for contextualising the research findings.

The study consisted of 27 survey responses from Limited Partner firms, covering 555 private capital professionals in the UK.