National real estate firm commits to ILPA’s industry-wide initiative supporting diversity, equity and inclusion in private equity
The Praedium Group (Praedium), a national real estate investment firm, announced it has signed the Diversity in Action initiative sponsored by the Institutional Limited Partners Association (ILPA). In becoming an ILPA Diversity in Action initiative signatory, Praedium is signaling the firm’s commitment to supporting diversity, equity and inclusion (DEI) efforts throughout the industry.
ILPA, the trade association for institutional limited partners in the private equity asset class, launched the Diversity in Action initiative to bring together limited partners and general partners that share a commitment to advancing DEI efforts in the private equity industry. Organizations that join the Diversity in Action initiative are publicly committing to concrete actions that advance DEI, both within their companies and the industry. These actions are part of a broad framework of activities that span talent management, investment management and industry engagement.
“Praedium is proud to be a Diversity in Action signatory, and we look forward to working with like-minded professionals in the private equity sector to advance ILPA’s mission,” said Russ Appel, Praedium’s Founding Principal. “One of our company’s values and principles is to encourage diversity, equity and inclusion.”
To support these efforts and continue to promote similar initiatives, the firm established a Diversity, Equity, and Inclusion Committee which is led by Vice President, Kelsey Durels.
“ILPA’s Diversity in Action initiative is a unique opportunity to collaborate with industry peers, share best practices and ultimately create a more inclusive, equitable and diverse environment throughout our industry,” said Ms. Durels. “At Praedium, we believe that having a diverse team enhances our decision-making processes and contributes to a more enjoyable workplace. We’re pleased to support ILPA and look forward to contributing to the organization’s efforts.”
Praedium is also a Supporting Donor of the PREA Foundation, which aims to further advance industry-wide diversity and inclusion. Additionally, Praedium is participating in the PREA/SEO Career Summer 2022 internship program which provides intensive, industry-led training and coaching to more than 125 college students at real estate firms across the nation this year. This real estate training program aims to increase diverse employment in the commercial real estate industry by developing a pipeline of talented students. In the first five years, the program has secured more than 400 paid internship opportunities at top real estate investment firms for underrepresented college students.
ABOUT THE PRAEDIUM GROUP
With more than 590 member institutions representing over 2 trillion USD of private equity assets under management, the Institutional Limited Partners Association (ILPA) is the only global organization dedicated exclusively to advancing the interests of LPs and their beneficiaries. Members include public and private pensions, insurers, endowments and foundations, family offices, development finance institutions, and sovereign wealth funds. ILPA’s policy agenda is focused on strengthening the private equity asset class through strong governance, alignment of interests, and transparency.