Hartford Business Journal

24 Hartford Business Journal • June 3, 2019 • www.HartfordBusiness.com LIFETIME ACHIEVEMENT AWARDS 2019 By John Stearns Special to the Hartford Business Journal W hen JoAnn H. Price was president of the National Associa- tion of Investment Companies (NAIC) in the early 1990s, she expected to support, not lead, a new fund of funds that would seek to raise and then steer more institutional capital to ethnically and gender diverse invest- ment professionals and their funds. Directors of NAIC, a Washington, D.C.-based association of diverse- owned private equity firms, had pro- moted formation of the fund and when Price was asked to head it — what would later become West Hartford- based Fairview Capital Partners Inc. — she initially declined, happy in her NAIC role. She later agreed and in 1992 set out to raise $100 million from institutional investors, a challenging 2½-year endeavor. Price took the role because she be- lieved in the mission. "I had a belief system and you can't really do anything, I don't think, suc- cessfully, like that — a startup or what- ever it is — without a belief system," said Price, 68, who cofounded Fairview in 1994 with Laurence C. Morse. The co-managing partners have built one of the country's largest minority- owned private equity investment management firms with aggregate fund capitaliza- tion of $9.6 billion since inception. Fairview manages the investments through fund of funds, customized separate accounts and other struc- tures — all with a diverse local staff of 25 and three in San Francisco. It also helps clients manage private equity portfolios. Fairview invests on behalf of institu- tional investors in the private market: in private equity, buyout funds and venture capital funds nationwide, including emerging and diverse-led firms and best-in-class VC firms. It also does direct co-investing. Fairview clients include pension plans, founda- tions, endowments, family offices and high-net-worth individuals. While Fairview invests in more than emerg- ing and diverse managers and their funds, it has never lost sight of its founding premise. "Fairview was a first in that sense in terms of talking about the impor- tance of diversity, talking about the importance of looking at talent across all ethnic and gender lines," expand- ing investment opportunities without lowering return, Price said. "Fairview was a first … in terms of talking about the importance of diversity, talking about the importance of looking at talent across all ethnic and gender lines." Price a pioneer in investment field diversity, and an 'angel' of giving PHOTO | J. FIERECK PHOTOGRAPHY JoAnn H. Price Co-founder & Managing Partner, Fairview Capital Size of organization: $9.6 billion under management Education: Bachelor's degree, Howard University, Washington D.C. Previous job(s): President, National Association of Investment Companies

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