The Politically Correct Pension FundChristina Del Valle
In 1989, when Xcylur R. Stoakley was running a $650 million venture portfolio for Ameritech Corp., he decided to throw a few bucks into businesses generally shunned by mainstream institutional investors. He found a Silver Spring (Md.) venture fund called Syncom that specialized in financing minority-owned communications companies and invested $3 million. Two years later, when Stoakley left Ameritech to start a private equity-fund management company that puts money in concerns owned by minorities or women, Syncom was just an average performer. But Stoakley hasn't given up on what has come to be known as economically targeted investing (ETI). "These businesses create jobs," says Stoakley.
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