Black-Owned Investment Firm Sues New Jersey for Racial Bias

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…


Source link