Museum launches diversity initiative for endowment portfolio

Jul 29, 2016

BALTIMORE (AP) — The Walters Art Museum in Baltimore has launched a diversity initiative that will allow women- and minority-owned firms to manage an endowment portfolio.

The Baltimore Sun (http://bsun.md/2aC3k37 ) reports that Brown Capital Management, Channing Capital, Elizabeth Park Capital Management and Garcia Hamilton & Associates have been hired to manage portions of the museum's $116 million endowment portfolio.

President of the museum's board Ellen Bernard says the initiative will strengthen the portfolio performance.

The initiative is part of the museum's strategic plan to push for diversity. The plan also includes partnerships with universities, Baltimore County, mentoring programs for aspiring museum professionals with diverse backgrounds and programming on social issues.

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