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November 16, 2014
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Foundations Struggle to Show Diversity in Hiring Money Managers


"A lot of people will tell you, 'We would do it, but we don't want to take the risk.' The risk is opening your mind." —Alberto Ibargüen of the John S. and James L. Knight Foundation

Four years ago, Alberto Ibargüen was asked during an investment committee meeting whether the John S. and James L. Knight Foundation, which he heads, had any of its endowment invested with minority-owned firms.

Mr. Ibargüen knew about a $7-million...

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