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NYS Comptroller

THOMAS P. DiNAPOLI

Program Partners: Private Equity



Farol Asset Management
Private Equity Co-Investment Program
48 Wall Street, 11th Floor
New York, NY 10005
(212) 918-4533
www.farolam.com

Eligibility Criteria

The emerging manager must:

  • be a Registered Investment Advisor.
  • be a fiduciary to the Fund.
  • have a verifiable, historical performance record for the product being offered, and principals with investment management experience.

The emerging manager may be a company or other entity or associations:

  • that has at least one senior officer or owner who is female and/or a member of an ethnic or racial minority; or
  • that includes as part of its strategy a focus on investing in companies that have at least one senior officer or owner who is a female and/or a member of an ethnic or racial minority; or
  • the Limited Partner identifies as being run by an emerging manager.

The emerging manager will be raising its first or second fund, or any buyout fund that has less than $750 million in assets under management.

In addition, the emerging manager will be sponsored by an entity:

  • that has least one senior officer or owner who is female and/or a member of an ethnic or racial minority; or
  • that includes as part of its strategy a focus on investing in companies that have at least one senior officer or owner who is a female and/or member of an ethnic or racial minority; or
  • the Limited Partner identifies as being sponsored by an emerging manager.

HarbourVest Horizon
Private Equity Program
One Financial Center
Boston, MA 02111
(617) 348-3541
www.harbourvest.com/emerging-and-diverse

Eligibility Criteria

  • The emerging manager must be a Registered Investment Advisor.
  • The emerging manager must be a fiduciary to the Fund.
  • The emerging manager must have a verifiable, historical performance record for the product being offered, and principals with investment management experience.
  • The emerging manager fund will have no more than $750 million in assets plus unfunded commitments under management at the time the Fund makes its commitments. The emerging manager fund may have up to $1 billion in assets plus unfunded commitments under management, with written approval from the Fund.
  • The emerging manager fund will be raising its first, second or third-time institutional fund.
  • The emerging manager fund shall have a minimum fund size of $100 million in committed capital exclusive of the Fund pending commitment.
  • Any emerging management firm with a track record of less than five years may utilize track records established at prior firms when performance can be clearly attributed to the emerging firm’s key individuals and/or the specific team associated with the strategy being considered.
  • A fund which does not meet these guidelines may be considered an emerging manager fund with written approval from the Fund.

Muller & Monroe Asset Management, LLC
Private Equity Program
180 North Stetson Avenue, Suite 1320
Chicago, IL 60601
(312) 782-7771
www.m2am.com

Eligibility Criteria

  • The emerging manager must be a Registered Investment Advisor.
  • The emerging manager must be a fiduciary to the Fund.
  • The emerging manager must have a verifiable, historical performance record for the product being offered, and principals with investment management experience.
  • The emerging manager fund will have less than $500 million in aggregate capital commitments.
  • The emerging manager fund will (i) have at least one senior officer or owner who is a female and/or a member of an ethnic or racial minority or (ii) includes as part of its strategy a focus on investing in companies that have at least one senior officer or owner who is a female and/or a member of an ethnic or racial minority.
  • The emerging manager fund intends to invest primarily in emerging strategies.
  • The emerging manager fund that does not meet any of the three preceding criteria may be selected above with written approval of the Limited Partner.