FCLTGlobal convened numerous roundtables to produce the practical guides that follow, which both GPs and LPs can use to evaluate, implement, and report on diversity and inclusion in the boardrooms of their privately held portfolio companies. For some firms, these may be the first steps. For others, they may be a refinement of plans already in motion. Regardless, they are a means to putting leaders in the boardroom of private companies who are representative, forward-looking, and positioned to create long-term value.

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The best practices listed on the pages that follow are meant to serve as suggested behaviors to help general partners (GPs) and limited partners (LPs) increase diversity in their portfolio company boards. These suggestions were collected from leading GPs and LPs that have begun making strides in DEI in their own portfolios. We recognize that many GPs and LPs are at different stages of this process and expect these best practices can serve as a starting point for some and offer a few new ideas for others. Some ideas may be more, or less, relevant for certain jurisdictions, geographies, or segments of the market and are included here for consideration at the user’s discretion.