Michael Carmen

Shanna O'Reilly

Wellington Management

As one of the world’s largest privately held asset managers, Wellington Management takes the long view and invests when others pull back. It's $8.5 billion Private Investing platform prioritizes performance while also considering the positive effects the platform can have on the growth of the next generation of private companies. Michael Carmen and Shanna O’Reilly recognize great talent is everywhere, but access to opportunities is not, and set out to create the Wellington Access Ventures (WAV) team to help change this. WAV seeks to drive long-term growth by investing in founders from diverse backgrounds and providing access to venture capital partnerships that can be critical to creating successful businesses and in turn generate value for investors. From venture capital to private credit, Wellington’s Private Investing platform invests across multiple sectors and stages. It leverages deep private and broader public market expertise, extensive network, and robust research across its global footprint to support the next generation of industry-defining entrepreneurs and changemakers. This innovative initiative is an important financial and reputational commitments a majority-owned firm has made to promoting and changing the face of the investment management industry. It should be applauded, replicated, and supported. Few people of color have the capital to build a complete firm from day-one inclusive of quality investment professionals, operations, legal and compliance and distribution. The “Wellington Model” should be viewed by the eyes of the industry and investors as a prudent alternative and business model that provides fiduciaries with a sound solution to the venture industry’s challenges. We repeat. It should be applauded, replicated, and supported.