TLDR:
- Fairview Capital Partners sells minority ownership stake to New York Life.
- This deal will help spur growth with venture capital firms and diverse fund managers.
On April 13, 2024, Black private equity and venture capital firm Fairview Capital announced the sale of a minority ownership stake to New York Life. This partnership is expected to accelerate Fairview’s growth and expand its investing with top venture capital firms and diverse fund managers. The financial terms of the deal were not disclosed, but Fairview’s co-founders, Larry Morse and JoAnn Price, expressed excitement about the opportunities this partnership will create.
Fairview Capital, ranked No. 2 on the BE Private Equity list, has amassed over $10 billion in assets under management since its inception 30 years ago. This new partnership with New York Life, a Fortune 100 company and the nation’s largest mutual life insurance company, further solidifies Fairview’s position as a leader in the industry. The co-founders and managing partners of Fairview will remain in control as majority owners.
Furthermore, New York Life’s commitment to Fairview is part of the mutual life insurer’s $1 billion impact investment initiative to bridge the racial wealth gap by investing in underserved communities and diverse fund managers. This partnership is a testament to the shared values and missions of both companies to create meaningful economic outcomes and generate positive returns for clients.
