FGP presents 2 new opportunities: to invest in a highly-amenitized residential development project consisting of 264 multifamily units in a prime West Palm Beach location; and invesetment in workforce housing through a partnership with Savanna Investment Management.
Actor and producer Michael B. Jordan has already proven to be a social change agent through the work of his Outlier Society production banner, as well as his partnership with Color of Change to launch the #ChangeHollywood initiative. And with the official unveiling of his Black-owned and led marketing agency Obsidianworks, Jordan is working to further bridge the gap between companies and the consumer in order to encourage authentic representation of people of color.
Sarah A Soule, Professor of Organizational Behavior at the Stanford School of Business and The Senior Associate Dean for Academic Affairs will serve as an advisor to FGP Companies. Ms. Soule is an expert in organizational theory and political sociology. She is the author of two books and serves on the boards of a number of non-profit organizations.
TruFund Financial Services, Inc. (“TruFund”), a Community Development Financial Institution located in New York City, announced that it has made an equity investment in Genesis Companies, LLC (Genesis), an African American-owned full-service real estate development firm that specializes in financing, developing and operating mixed-income and mixed-use residential projects in New York and New Jersey. The preferred equity investment will support critical aspects of Genesis’ strategic growth plan, specifically allowing the firm to continue to grow internal capacity, execute more efficiently and leverage increased liquidity.
Genesis was advised in the transaction by Fort Greene Partners (FGP), a minority-owned firm. “Karim Hutson is a visionary business and community leader,” said Richard Wayner, Founder and Managing Partner of FGP. “This blue-chip investment led by TruFund, Morgan Stanley and Ford Foundation recognizes that Genesis is building one of the leading real estate businesses in New York.”
FGP Companies (FGP) is raising $500 of equity to acquire and grow scalable diversity-driven companies with strong management teams. FGP is targeting businesses serving fast growing ethnic markets; businesses owned by ethnic minorities and businesses geographically located near ethnic minorities. FGP refers to these target markets as “American Emerging Markets” which represent a very attractive investment opportunity due to capital inefficiencies, shifting demographics and increased focus on supplier diversity by Fortune 500 companies.
“We intend on working with Fortune 500 companies to identify and invest in prove minority-owned suppliers that need capital to scale and service their blue-chip clients,” said Richard Wayner, Managing Partner at FGP.
by Sarah A. Soule, Davina Drabkin, and Lori Nishiura Mackenzie
Stereotypes are often reinforced by the words we choose to use. For example, when researchers recently analyzed massive text datasets, they found that in the 1910s, Asians in the U.S. were often characterized by words like “barbaric” or “monstrous” while descriptors like “passive” and “sensitive” are more common today.
by Bryan Walker and Sarah A. Soule
Culture is like the wind. It is invisible, yet its effect can be seen and felt. When it is blowing in your direction, it makes for smooth sailing. When it is blowing against you, everything is more difficult.
After conversations with the Black Alumni Association and the Black Business Student Association, The Stanford Graduate School of Business (GSB) has implemented an action plan to address racial inequity and bias at the institutional level and within the higher education sector.
With the release of our new website we have incorporated a blogging feature that will allow us to post new articles on a regular basis. Keep an eye out for news, tips, and company updates from the FGP team.