How CalPERS Is Launching a Playbook for Emerging Managers

I think finally, after years and years of us kind of knowing and sensing that it's a real crisis for diverse managers to raise capital, there's been tremendous amounts of studies. The pools of capital are massive and so little is being deployed. We just had to take two beliefs that were low hanging fruit in my mind. And the outcome to me, if we could pull it off, was going to be super exciting.