Power100 Leaders Push to Redefine DEI Narrative in Finance Amid Policy Rollbacks

At the 2026 Power100 event held alongside the Milken Institute Global Conference, diverse leaders in finance gathered to challenge the shifting narrative around diversity, equity, and inclusion (DEI) in the industry. The conference spotlighted the contributions of women and people of color in finance, especially as DEI initiatives face significant rollbacks under the Trump administration.

This gathering is crucial as minority- and women-owned firms manage only 1.4% of the $82 trillion in U.S. assets under management, according to a 2025 Government Accountability Office report. Attendees emphasized the need to increase visibility and capital flow to diverse managers to foster economic growth and innovation.

Power100: A Platform to Showcase True Success in Diversity

Jacob Walthour, co-founder of Power100 and CEO of Blueprint Capital, expressed concern over how success has been redefined in ways that undermine the achievements of women and people of color. The event, now in its third year, serves as a counterpoint to negative narratives, aiming to demonstrate authentic success stories within alternative capital management—a sector traditionally dominated by white men.

While former President Donald Trump was not directly mentioned, his administration’s executive orders in 2025 dismantling DEI efforts in federal agencies and private businesses loomed large in attendees’ minds.

Capital Challenges and the Call for Change

Shundrawn Thomas, founder of the Copia Group, highlighted a troubling decline in capital allocated to emerging and diverse managers amid claims that opportunities were being unfairly distributed. He stressed the urgency for diverse leaders to become proactive agents of change rather than waiting for external intervention.

"Superman is not coming. We need to be the agents of change."—Shundrawn Thomas, Copia Group

Jacob Walthour identified two major trends shaping the alternative capital management landscape: the rollback of DEI initiatives and the rise of an AI revolution, both of which will significantly impact the industry’s future.

Expanding Access and Visibility for Diverse Managers

The Power100 event has evolved from a side gathering to a major networking destination, featuring panels and dinners with influential figures like David Rubenstein and former Vice President Kamala Harris. Harris emphasized the need to address systemic disparities to fulfill capitalism’s promise of equal opportunity.

"An underlying assumption is that everyone has equal capacity to compete, and that is just not the case. The work we have to do is to address disparities that exist and have increased over time."—Kamala Harris, Former Vice President

This year’s gathering included representatives from firms controlling approximately $24 trillion in assets, a significant increase from $15 trillion in 2025. Walthour emphasized raising the visibility of qualified women and people of color to bridge the gap between investors and diverse talent.

Roger Ferguson, former Federal Reserve vice chair and 2026 Power100 honoree, underscored the economic imperative of channeling capital to the best ideas regardless of the entrepreneur’s background to ensure robust economic growth.

Fostering the Next Generation of Diverse Leaders

The event also focused on including smaller firms and younger asset managers to prepare them for future opportunities. Austin Clements, founder of Slauson & Co., stressed the importance of bringing fresh, innovative voices into the conversation to lead future investments.

"Those are going to be the people that are going to lead us and make the greatest investments of the future. That’s just the way it is, that’s the way it will always be."—Austin Clements, Slauson & Co.

Looking Ahead: Reclaiming and Redefining DEI in Finance

As DEI initiatives face political and cultural headwinds, the Power100 community is determined to reshape the narrative by showcasing real achievements and expanding access to capital. Their efforts aim to ensure that diverse talent is recognized and empowered, driving innovation and economic growth in the finance sector.