Blueprint Capital Advisors, one of the few U.S. investment firms founded by African-Americans, sued New Jersey for racial bias, saying officials told it that the state’s pension was averse to hiring money-management firms owned by minorities
A Black-owned investment firm sued New Jersey for racial bias on Tuesday, saying officials told it that the state’s pension was averse to hiring money-management firms owned by minorities.
Blueprint Capital Advisors is one of the few U.S. investment firms founded by African-Americans. The Newark firm said in court documents Tuesday that New Jersey’s pension office “usurped” its ideas and hired money-management giant BlackRock Inc. to run Blueprint’s strategy. Blueprint alleges pension staff made efforts to block it from investing...
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