“Obviously, there has been a social awakening, and you have a number of LPs raising these questions,” says Ray Whiteman, founding partner, Stellex Capital Management at M&A’s Leaders in DEI Speak event. “It’s an ecosystem that’s fed upon itself, because, if you’re going to the same schools, and if you’re recruiting the same people, you’re going to get the same thing. How do you change that culture? You can’t pivot in one minute after 20-30 years of a firm’s existence. I think it’s going to take some time. It’s easier for us, we’ve been around now seven years, and we came in intentionally, looking to create a very diverse environment from Day One.”