Business with Diverse Investment Firms

Minority, Women, Veteran, and Disabled-Owned (MWVD) Firms

Diversity is Good for Business

Treasurer Frerichs believes that our government should mirror the diversity in our state. And furthermore, diversity is good for business. Research demonstrates that diverse-owned companies are often well-situated to ascertain capital inefficiencies in the market, and as such, many are primed to outperform their peers.


The Office of the Illinois Treasurer is focused on providing more opportunities to Minority, Women, Veteran, and Disabled-owned (MWVD) firms.


Not only does this help ensure equal opportunity, but these firms help the Office of the Illinois Treasurer accomplish its primary objectives to safeguard state assets, ensure liquidity, and maximize investment returns. By providing important services and added value to the Office of the Illinois Treasurer, these firms provide a direct benefit to the people of Illinois.

Chart showing increased use of diverse broker/dealers by Treasurer's Office

Increasing Business with Diverse Broker/Dealers

Since 2015, the Office of the Illinois Treasurer increased utilization of diverse broker/dealers from 1% to 92%.


The Treasurer’s two internally managed investment programs, the State Investment Portfolio and Illinois Public Treasurers’ Investment Pool (also referred to as “The Illinois Funds”), are made up of direct purchases and brokered investments.


Tapping diverse-owned broker/dealers is one of the quickest and best ways to ensure MWVD participation – and recent numbers emphasize our sustained progress in this area, as illustrated below.

Increasing Business with Diverse Managers

Utilization of diverse asset managers increased from $18 million in December 2014 to $3.9 billion as of July 2020. That represents a 216-fold increase.


The Office of the Illinois Treasurer has made tremendous strides expanding the use of diverse asset managers. These firms provide added value to the investment programs under the Treasurer's stewardship, helping maximize returns, safeguard assets, and diversify the investment mix.