The Casoro Group, a leading multifamily real estate investment firm based in Austin, Texas, announced today that it has been accepted as an ILPA Diversity in Action signatory. This initiative from the Institutional Limited Partners Association (ILPA) brings together industry-leading limited partners and general partners who share a commitment to advancing diversity, equity, and inclusion (DEI) in the private equity industry.
To join the initiative, Casoro Group provided a summary of concrete actions that the firm is taking to promote DEI within its organization and in the wider industry, including annual courses for workplace harassment, a DEI policy in the employee handbook and a DEI statement for all job postings. As a signatory, Casoro Group will participate in actions set out in the ILPA Diversity in Action Framework – such as regular roundtable discussions, working groups and surveys – to provide the industry with greater transparency on the state of DEI today and develop best practices that will move private markets forward.
“We are thrilled to join this initiative and advance our DEI efforts within Casoro Group and our community,” said Jessica Lee-Wen, Chief Marketing Officer of Casoro Group. “We aim to create a lasting impact in the communities we serve, and collaborating with the ILPA and other signatories will enhance and ensure the longevity of those efforts.”
In addition to its work with ILPA, Casoro Group has made its own strides in DEI and wealth inequality among minority youth and young adults with the launch of the Onyx Impact Fund and the Casoro Group Education Foundation in 2021 which work together to advance diversity in the commercial real estate (CRE) industry. The Fund invests in general partners who are at least 50% minority led. As the Fund generates returns, Casoro Group pledges 5% of returns to the Foundation, w hich works to educate high school and college students in underserved and underrepresented communities to the wide variety of career options within CRE. The Foundation provides funding to post-secondary schools like HBCUs to create curricular and extracurricular programs for students interested in careers in the CRE sector, and connects them with scholarships, mentorships and internships to help build a foundation for their future success.