Jagdeep Singh Bachher

UC Regents

Jagdeep Singh Bachher, chief investment officer and vice president of investments at the University of California (UC) does not mince words when discussing his approach to diversity at the fund. The University of California encompasses 10 institutions and employs 63 people in its investment office, which manages a $161 billion portfolio that includes endowment, retirement and cash assets. UC employs a higher percentage of people of color than the financial services industry. People of color make up 62 percent of investment employees at the university system and only 32 percent of employees in the financial services industry. Through its Diversified Returns program, UC Investments incorporates diversity, equity and inclusion into its investment and operations processes. In 2019, a new, senior professional level position was created to further develop the approach to DEI. The direct result of Bachher’s strong leadership and focus, the program demonstrates higher metrics than most institutions reporting through the Knight Study. In 2022, the UC team met with roughly 333 diverse-owned managers, including 101 managers largely sourced through its partnership with the National Association of Investment Companies (NAIC). The same year six of the seven new investment partners funded were owned by women and people of color. Bachher is responsible for managing the UC pension, endowment, short-term, and total-return investment pools. He reports directly to the Board of Regents on investment matters. Before joining the UC system, Bachher was an executive vice president of venture and innovation for Alberta Investment Management Corp (AIMCo) beginning in 2009. Based in Edmonton, AIMCo is one of Canada’s largest and most diversified investment fund managers. In Bachher’s own words, “We are committed to engaging with intentionality on diversity, equity and inclusion. We will collaborate with - and learn from - others and share our progress along this critical journey.”