Level 20 aims to boost gender diversity in PE

The new organisation has been established by 12 female private equity professionals: Kathleen Bacon, managing director of HarbourVest Partners; Cécil Belaman, managing director of Bain Capital; Jennifer Dunstan, partner at 3i; Dana Haimoff, managing director of JPMorgan Asset Management; Lori Hall-Kimm, director of Ontario Teachers' Pension Plan; Alexandra Hess, partner at Cinven; Kathryn Mayne, managing director of Horsley Bridge International; Emma Osborne, senior partner at Graphite Capital; Christine Pamberg, managing director of Alcyon Holding; Hanneke Smits, non-executive director at Sofina; Helen Steers, partner at Pantheon; and Sasha van de Water, managing partner of Keyhaven Capital.

Level 20 aims to ensure 20% of senior positions across the European private equity industry are filled by women by 2020. According to the group, women account for just 5% of senior industry roles. Level 20 also acknowledges that fewer women enter the private equity industry, with only a small number then progressing to senior roles.

Smits, Level 20's chairperson, believes better gender diversity in private equity will lead to superior investment performance, citing studies focusing on publicly-listed companies that have seen a correlation between mixed teams and higher returns on equity.

Membership organisation Level 20 is based in London and will establish a career mentoring programme, a formalised network of female professionals and a commitment to philanthropy in order to boost gender diversity.

The dearth of senior women in private equity has been a key topic for the industry this year, and in July, unquote" published a two-part series looking at how the situation has become so dire, and exploring what firms and individuals can do to boost gender diversity. You can read the feature here.

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