September 25, 2022

Finance & Economy

Let's Talk About Investment

New asset management firm seeks to depoliticize corporate boardrooms

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For too long, Vivek Ramaswamy says the biggest asset managers — think Black Rock, Vanguard and State Street — have been more concerned about politics than performance when it comes to where they invest.

Now Ramaswamy has started a new Greater Columbus-based asset management company, called Strive Assessment Management, that he says will do on the opposite.

His firm has raised more than $20 million from some of the biggest names in business to back him. The company expects to launch its first product this fall. 

“The mission of the company is to restore the voice of the everyday citizen,” said Ramaswamy, who co-founded the company with Anson Frericks this year.

Strive argues that Blackrock, Vanguard and State Street, which control more than $20 trillion in assets, practice what’s called stakeholder capitalism in that they use client funds to advance what he calls ideologies that some don’t like, such as fighting climate change and ensuring representation for women and minorities on corporate boards.

https://www.dispatch.com/story/business/2022/05/31/new-asset-management-firm-seeks-depoliticize-corporate-boardrooms/9795658002/