CEO Jacob Walthour, Courtney Gibson and 49th Vice President of the United States, Kamala Harris on stage at the 2026 Power100 Honorary Dinner at The Beverly Wilshire, A Four Seasons Hotel on May 3, 2026 in Beverly Hills, California.
Arnold Turner getty images
The Power100 gathering on the sidelines of the Milken Institute Global Conference took on a different tone this year as its diverse leaders in finance attendees fight to reclaim the narrative about people of color and women.
“We’re trying to show the world what success looks like,” said Jacob Walthour, co-founder of Power100 and founder and CEO of Blueprint Capital. “And over the past year, what success looks like has been redefined in a way that is not respectful and true to the contributions of women and people of color.”
President Donald Trump, who campaigned and frequently speaks about rolling back diversity, equity and inclusion measures in both the federal government and the private sector, was not mentioned at the conference, but the impact of his policies were clearly on the minds of attendees. In his first week in office in 2025, Trump issued a series executive Order Targeting DEI initiatives at federal agencies and private sector businesses.
The Power100 meeting – in its third year – is hosted by Blueprint Capital Advisors in Beverly Hills, California, to convene diverse leaders in alternative capital management, a field predominantly led by white men.
according to a 2025 Government Accountability Office ReportMinority- and women-owned firms manage only 1.4% of the approximately $82 trillion assets under management in the US.
Shundran Thomas, founder of Copia Group investment firm, attended for the first time this year with the goal of networking and seizing opportunities to tackle trends he finds relevant.
“We are living through a period where there has been the implication that capital and opportunity were flowing to women and people of color who were not qualified,” she said. “Unfortunately, while these debates have been happening, we have seen a dramatic decline in the amount of capital going to emerging and diverse managers.”
“Superman isn’t coming,” he said. “We need to be agents of change.”
Walthour said he believes the end of DEI is one of two broader trends impacting the alternative capital management sector, along with what many believe will also be the beginning of the AI revolution.
In 2024, Walthour, Robert F. of Vista Equity Partners. The Power100 has changed dramatically since it was started by Smith, Churchill Asset Management’s Ken Kensel and many other leaders in finance.
From the beginning, the event was positioned adjacent to the Milken Institute Global Conference to offer networking and access to companies and leaders who cannot afford the registration fees, which start at $25,000 this year.
The Power100 event has evolved into its own destination this year with networking events, panels and dinners that featured discussions with Carlyle Group co-founder and co-chairman David Rubenstein and former Vice President Kamala Harris.
Harris addressed the topic of reclaiming the narrative at the Power100 dinner.
“There’s an underlying assumption that everyone has the same ability to compete, and that’s just not true,” he said. “So the work we have to do, the promise of capitalism if you like, is to address the inequalities that exist and have grown over time.”
CEO Jacob Walthour on stage at the 2026 Power100 Honorary Dinner at The Beverly Wilshire, A Four Seasons Hotel on May 3, 2026 in Beverly Hills, California.
Arnold Turner getty images
Walthour estimated that this year’s gathering, which ended on Monday, included representatives from companies with the potential to allocate about $24 trillion, up from $15 trillion in 2025.
Walther said, “Capital should always flow to the best managers, the best ideas, the best innovations, and people who can execute on business plans. We often hear ‘I would invest with women and people of color, but I don’t know where to find them.’ “We have increased their visibility.”
Roger Ferguson, former vice chair of the Federal Reserve and a 2026 Power100 honoree, sees improving capital flows as an urgent issue for the broader economy.
“If we don’t get capital into the hands of people with the best ideas, no matter what they look like, no matter their gender, good ideas will fall by the wayside and the economy won’t grow,” he said.
Jasmine Richards, head of diversified investing at Cambridge Associates and a 2026 honoree, said living in the room provides needed access.
“It’s a highly curated room where you can really get together and enjoy each other, but you can also get together and be purposeful,” Richards said. “You can not only build relationships but also make deals. There aren’t many opportunities like this.”
Small investment firms and young asset managers
This year, there is also a greater emphasis on inviting and involving smaller companies and younger participants with the goal of preparing them for future opportunities.
“We need to accelerate their progress to get them into key seats and move toward opportunity,” Thomas said.
Austin Clements, founder of Slauson & Co., a venture capital firm founded in 2020, said it is essential for emerging funds and managers to gain access to connections and conversations on the Power100.
“We’re always trying to bring in new voices, young voices, people who are in tune with the next wave of innovation, communications technology,” Clements said. “They will be the people who lead us and make the greatest investments in the future. That’s the way it is, it’s the way it will always be.”