Disclosure certainty 4/5 debate potential 1/5

PRINCO modifies diversity diligence to focus on manager recruiting pipelines

Jen Birmingham · Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336) · Sep 4, 2023 · at 47:55

Jen Birmingham, Managing Director at PRINCO, explains how the endowment evaluates external asset managers on diversity.

0:00 / 0:15exact quote · 15.7s
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“We modified it to actually really gauge not only where managers stand in terms of their diversity, but also what we call the faucet, because that's where we feel the biggest impact's going to be.”

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More from Jen Birmingham

Insight
Birmingham: Career acceleration and deep learning require in-person office work
“I think junior staff members, what they don't appreciate is that, yes, you've been productive, but do you want to catapult your career? Do you want to learn as much as possible? Do you want to be the best XYZ ever? That is going to require you to have some in-…”
Jen Birmingham Sep 4, 2023 ▶ 21:15 Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Prediction Open · timeframe Sep 2028
Birmingham: Remote work will decrease over the next five years
“I think certain fields will get back to what it used to be. I don't think everyone's going to now be hybrid. I don't think the new norm is remote work as much as it is now. Andy always does this to me. If you were going to make a bet that in five years it woul…”
Jen Birmingham Sep 4, 2023 ▶ 21:49 Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Insight
PRINCO intentionally preserves inefficient large meetings to improve organizational learning
“It is ok to be inefficient sometimes if you are more effective in the learning process. So we have huge meetings. One might say that would be much more efficient if there was just five of us. We'd probably come to the same decision. Be done with it. However, y…”
Jen Birmingham Sep 4, 2023 ▶ 58:03 Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Insight
Birmingham: Overhearing and butting into conversations drives learning at PRINCO
“Overhearing conversations is a big part of our learning and culture. Someone hearing something and then interrupting or butting in is actually what we want people to do.”
Jen Birmingham Sep 4, 2023 ▶ 14:23 Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Disclosure
PRINCO's board delegates full investment approval authority to internal team
“So one of the great parts of the governance is that the PRINCO board doesn't approve investments. PRINCO has the ability to invest without constraint as it relates to the board.”
Jen Birmingham Sep 4, 2023 ▶ 22:26 Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
Disclosure
Birmingham: PRINCO uses only external legal counsel to enforce team ownership
“It's another reason why we actually do not have internal legal counsel. We use external only, and the reason for that is that the investment person, as well as the ops team, has to play quarterback.”
Jen Birmingham Sep 4, 2023 ▶ 27:56 Jenn Birmingham – Organizational Alpha at PRINCO (EP. 336)
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