National Association of Investment Companies (NAIC)

What National Association of Investment Companies (NAIC) does

NAIC (National Association of Investment Companies), founded in 1971 and headquartered in Washington, D.C., is a 501(c)(6) nonprofit trade association serving as the largest network of diverse-owned alternative investment firms in the United States. Its 178 member firms span private equity buyout, venture capital, growth equity, real estate, private credit, hedge funds, and infrastructure strategies, collectively managing $520B in aggregate assets under management as of 2026. NAIC operates four program pillars: NAIC Access (connecting managers with capital allocators through the Amplifying Alts Forum, 7 annual institutional investor roadshows, Spring Fling, Family Office Symposium, and MINT Report), NAIC Academy (skill development via NextGen Symposium and NAIC Insights Series), NAIC Advocacy (research and data products including the KPMG and GCM Grosvenor-compiled NAIC Private Equity Index and IntelligentNAIC data platform), and NAIC Advancement (career development through MBA Fellowship, Women in Alternatives, and career board). The organization demonstrates 700 basis points of IRR outperformance vs the BURGISS median (16.0% vs 9.0%) across the 2025 study period, with members outperforming in 90.5% of years studied.

NAIC's revenue model is a hybrid of annual membership dues from member firms, multi-year corporate partnerships (AWS, EY, Lockton, TPG, US Bancorp, William Blair), and premier event sponsorships (BlackRock, Vista Equity Partners, Wells Fargo, Kirkland & Ellis, Akin Gump, Palladium, Sidley Austin). Distribution is primarily through direct-to-member and direct-to-allocator channels, including the annual Amplifying Alts Forum (350+ attendees), 7 regional roadshows (143 one-on-one meetings in 2025), the LP Green Book covering 470+ allocators, and industry alliances with Pensions & Investments, ILPA, DAMI, NCPERS, IEN, and the American Investment Council. The organization is led by President & CEO Robert L. Greene and operates with a small 1-10 employee staff supported by a Board of Directors chaired by Joseph J. Haslip.

Name

National Association of Investment Companies (NAIC)

Legal name

National Association of Investment Companies

Website

https://naicpe.com

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

1–10 employees

Short description

NAIC is a 501(c)(6) nonprofit trade association and the largest U.S. network of diverse-owned alternative investment firms, connecting 178 member GPs managing $520B in aggregate AUM with institutional allocators through events, roadshows, and proprietary performance research.

Ownership category

akta.pro rank

Product category

Alternative Investment Trade Association

NAICS

Business Associations (813910), Convention and Trade Show Organizers (561920)

SIC

Services-Membership Organizations (8600)

akta.pro industry

PRIMARYFSAEABAA

Registered Investment Advisor (RIA) Wealth Management

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Wealth & Retirement Advisory

Keywords

• Alternative investment association
• Private equity membership
• Diverse-owned managers
• Institutional investor relations
• Trade association services

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Membership Dues: NAIC generates revenue through annual membership fees from diverse-owned alternative investment firms. Members range from first-time fund managers to those with billions in AUM. Membership provides access to programs, events, data tools, and visibility to institutional investors.
2. Event Sponsorships: Revenue from premier sponsors, multi-year corporate partners, and event sponsors for programs like the Amplifying Alts Forum, Spring Fling, and Family Office Symposium. Sponsors include major financial institutions, law firms, and professional services companies.
3. Corporate Partnerships: Multi-year corporate partnerships with organizations like AWS, Ernst & Young, Lockton, TPG, US Bancorp, and William Blair that provide financial and strategic support in exchange for program visibility and member access.

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

NAIC is a membership trade association that connects 178 diverse-owned alternative investment firms with institutional capital allocators through curated events, roadshows, proprietary research and data platforms (IntelligentNAIC, MINT Report, LP Green Book), professional development programs (NextGen Symposium, MBA Fellowship, Women in Alternatives), and industry advocacy. It generates insights like the biennial 'Examining the Returns' performance study and provides LP/GP matchmaking infrastructure for fundraising support.

Product overview

NAIC is an industry association serving as the largest network of diverse-owned alternative investment firms, not a technology product company. The organization offers a portfolio of member services organized around four pillars: NAIC Access (programs connecting managers with capital allocators, including the Amplifying Alts Forum, Institutional Investor Roadshows, and Family Office Symposium), NAIC Academy (skills development including the NextGen Symposium and NAIC Insights Series), NAIC Advocacy (research including the IntelligentNAIC data platform, biennial performance reports, and market intelligence), and NAIC Advancement (career programs including the MBA Fellowship, Women in Alternatives initiative, and career board). Core data products include IntelligentNAIC (member firm data aggregation with $520B aggregate AUM), the quarterly MINT Report for capital allocators, the LP Green Book covering 470+ allocators, and biennial 'Examining the Returns' performance studies showing consistent outperformance of diverse PE managers.

Differentiator

Problem solved

Functional benefit

Brands

• Amplifying Alts Forum: NAIC's annual flagship conference bringing together LPs, GPs, and industry leaders.
• NAIC Academy
• NAIC Access
• NAIC Advancement
• NAIC Advocacy
• IntelligentNAIC
• Women in Alternatives (WIA)
• NextGen Symposium
• MBA Fellowship Program

Products and services

• NAIC Membership Annual membership for diverse-owned alternative investment firms (Black-owned, Latinx-owned, Asian-American-owned, and female-owned PE, VC, growth equity, real estate, private credit, hedge fund, and infrastructure managers) providing access to capital allocator programs, events, the IntelligentNAIC data platform, professional development, and advocacy. Members range from first-time fund managers to those with billions in AUM.
• IntelligentNAIC Proprietary data aggregation platform that aggregates information from NAIC's 178 member firms, providing proprietary research on diverse managers, performance metrics, aggregate AUM ($520 billion), fundraising data, and oversubscribed fund tracking for institutional capital allocators and members.
• Managers in the Market (MINT) Report Quarterly fundraising report providing capital allocators with data on high-performing diverse managers, fund targets, and actual fundraising results; requires accredited investor verification and a pre-existing NAIC relationship.
• LP Green Book Comprehensive digital resource featuring data on 470+ allocators who have engaged with NAIC through Capital Access programs, including LP strategies, allocation sizes, investment preferences, and investment history with NAIC members.
• Amplifying Alts Forum NAIC's flagship annual conference held September 29-30, 2026 in Washington, D.C., bringing together 350+ LPs, GPs, and industry leaders for two days of panels, fireside chats, and networking; features the Hall of Fame Awards and LP Meetup sessions.
• Institutional Investor Roadshows Member events uniting diverse-owned investment managers with limited partners; NAIC co-hosted 7 regional roadshows in 2025 facilitating 143 one-on-one meetings with institutional allocators.
• NextGen Symposium Nine-week curriculum for 40 aspiring and early-stage GPs providing access to successful GPs, LPs, and service providers covering firm formation, fundraising, operations, and investor engagement; 68 distinguished speakers participated in 2025.
• MBA Fellowship Program 10-month fellowship for second-year MBA students at Columbia Business School, Wharton, MIT Sloan, and Harvard Business School, supported by Avante Capital Partners and Valor Equity Partners, providing experience in the alternatives industry.
• Women in Alternatives (WIA) Career development and leadership training initiative for women in alternatives, featuring the WIA-UP Fellowship Program (6-month mentorship) and WIA-BEYOND (training for General Partners).
• NAIC Market Pulse Report Research publication covering market trends in the alternatives industry, such as the 'Retailization and the Future of Alternatives' report examining the expanding access of alternative investment strategies beyond institutional investors.
• Examining the Returns (Biennial Performance Study) Biennial performance study showing diverse-owned private equity firm outperformance against the Burgiss benchmark. The 2025 report showed IRR of 16.0% vs 9.0% Burgiss median (700 basis points outperformance), compiled with KPMG and GCM Grosvenor.
• Spring Fling Networking event hosted by NAIC for institutional allocators, member managers, and professional services firms.
• Family Office Symposium Exclusive NAIC event for family offices focused on the diverse manager ecosystem.
• NAIC Multi-Year Corporate Partnerships Multi-year corporate partnership program for major financial institutions, law firms, and professional services firms (e.g., AWS, Ernst & Young, Lockton, TPG, US Bancorp Impact Financial, William Blair, BlackRock, Vista Equity Partners, Wells Fargo, Kirkland & Ellis, Akin Gump, Sidley Austin, Palladium Equity Partners) providing financial and strategic support in exchange for program visibility and member access.

Quantifiable outcome

• NAIC member firms outperformed the BURGISS median IRR in 90.5% of years studied
• +4 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

21 partnerships are on record, tiered core, flagship and minor.

• AWS (Amazon Web Services)coreOthersMulti-year corporate partner providing cloud infrastructure and technology support for NAIC programs and member services.
• Ernst & Young (EY)coreOthersMulti-year corporate partner providing professional services expertise and thought leadership for NAIC initiatives.
• LocktoncoreOthersMulti-year corporate partner providing insurance and risk management insights for NAIC member firms.
• TPGcoreOthersMulti-year corporate partner and major investment firm supporting NAIC's mission to advance diverse managers.
• US Bancorp Impact FinancialcoreOthersMulti-year corporate partner providing impact finance expertise and capital access support for NAIC programs.
• William BlaircoreOthersMulti-year corporate partner providing investment banking and capital markets insights for member firms.
• KPMGcoreOthersProfessional services firm engaged to ensure objectivity and transparency in NAIC's biennial Private Equity Performance Study. KPMG manages collection and compilation of member firm performance data.
• Pensions & InvestmentscoreStrategic or Co-development PartnerMulti-year alliance announced January 2025 to promote diversity in institutional investment industry. Partnership aims to grow assets allocated to diverse-owned firms through investor education, thought leadership, and NAIC member access to P&I's Research Center.
• BlackRockflagshipOthersPremier sponsor providing major institutional investment expertise and supporting NAIC programs and events.
• Akin Gump Strauss Hauer & Feld LLPflagshipOthersPremier sponsor and major law firm providing legal expertise and hosting NextGen Symposium capstone events.
• Kirkland & EllisflagshipOthersPremier sponsor providing private equity legal expertise and supporting NAIC events and initiatives.
• Vista Equity PartnersflagshipOthersPremier sponsor, major member firm, and key supporter of NAIC's mission with multiple oversubscribed fund successes.
• Wells FargoflagshipOthersPremier sponsor providing major banking and financial services expertise for NAIC programs.
• Palladium Equity PartnersflagshipOthersPremier sponsor and member firm supporting NAIC initiatives and events.
• Sidley AustinflagshipOthersPremier sponsor providing legal services and support for NAIC programs.
• American Investment CouncilcoreStrategic or Co-development PartnerIndustry alliance partner for joint advocacy and research initiatives on private capital's role in economic growth.
• Diverse Asset Managers Initiative (DAMI)coreStrategic or Co-development PartnerIndustry alliance working to advance diversity in asset management through research, networking, and advocacy.
• Institutional Limited Partners Association (ILPA)coreStrategic or Co-development PartnerIndustry alliance providing governance standards and best practices for LP/GP relationships in private equity.
• Intentional Endowments Network (IEN)coreStrategic or Co-development PartnerIndustry alliance helping colleges and universities align endowment investments with institutional mission including diversity goals.
• NCPERS (National Conference on Public Employee Retirement Systems)coreStrategic or Co-development PartnerIndustry alliance representing public pension funds and advocating for diverse manager allocations.
• BroadView Talent PartnersminorOthersExecutive search and leadership advisory firm partnered with NAIC in 2025 to provide member firms access to top-tier executive talent.

Scale indicators20 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Diverse Asset Managers Initiative (DAMI): Industry alliance working to advance diversity in asset management through research, networking, and advocacy. Directly comparable as a peer organization pursuing overlapping diversity-in-investing mandates with NAIC.
• National Venture Capital Association (NVCA): US trade association for the venture capital industry. Comparable as a PE/VC adjacent membership organization providing advocacy, research, and networking for member firms and limited partners.
• American Investment Council: Industry association for the private equity industry; co-author with NAIC on the 'America at 250' report and a strategic alliance partner. Directly comparable as a US-based PE/alternatives trade association advocating for the industry and producing research.
• NAREIM (National Association of Real Estate Investment Managers): US membership association for real estate investment managers operating in institutional private real estate. Comparable as an alts-focused membership association serving investment managers with research, benchmarking, and networking.
• Institutional Limited Partners Association (ILPA): Global membership organization for institutional LPs in private equity; industry alliance partner of NAIC. Comparable as a PE-focused membership body creating governance standards, networking, and LP/GP engagement programs.
• Alternative Investment Management Association (AIMA): Global hedge fund and alternatives industry association representing investment managers. Comparable to NAIC as a membership association serving alternative investment managers with advocacy, education, and best-practice programs.

Broad incumbents

• CFA Institute: Global association for investment professionals providing education, ethics standards, and credentialing (CFA charter). Comparable as a larger incumbent membership organization supporting investment professionals with research, education, and advocacy.
• Investment Company Institute (ICI): Largest US investment management trade association representing regulated investment companies (mutual funds, ETFs). Comparable as a broader, established incumbent in the asset management association space with overlapping research and advocacy functions.

Emerging players

• Intentional Endowments Network (IEN): Network helping colleges and universities align endowment investments with mission-driven goals including diversity. Comparable as a smaller, mission-aligned industry alliance working with NAIC on overlapping LP-side diversity initiatives.
• Private Equity Women Investor Network (PEWIN): Network for senior women leaders in private equity, focused on advancing diversity and inclusion in the industry. Comparable to NAIC as a smaller, mission-driven organization addressing diversity in alts with networking and professional development.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCSEI04_lt0eOUa1yce1d5pw
• LinkedInlinkedin.com/company/national-association-of-investment-companies

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Association of Investment Companies (NAIC)