Milken-adjacent Power100 aims to reclaim the finance DEI narrative

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 are 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 course of the last year, what success looks like has been redefined in a way that has not been respectful and not truthful about the contributions of women and people of color.”

President Donald Trump, who campaigned on and speaks often 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 back in office in 2025, Trump issued a series of executive orders 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, Calif., convening diverse leaders in alternative capital management, a field predominantly led by white men.

According to a 2025 Government Accountability Office report, minority- and women-owned firms only manage 1.4% of the approximately $82 trillion in assets under management in the U.S.

Shundrawn Thomas, founder of the Copia Group investment firm attended for the first time this year, with the goal of building networks and opportunities to combat trends he sees as concerning.

“We’ve been through a period where there has been an implication that capital and opportunity was flowing to women and people of color that were not qualified,” he said. “Unfortunately, while these arguments are taking place, we’ve seen a dramatic decline in the amount of capital going to emerging and diverse managers.”

“Superman is not coming,” he said. “We need to be the agents of change.”

Walthour said he thinks the end of DEI is one of two macro trends affecting the alternative capital management field, along with the beginning of what many believe will be an AI revolution.

The Power100 has changed dramatically since it was started in 2024 by Walthour, Robert F. Smith of Vista Equity Partners, Ken Kencel of Churchill Asset Management and several other leaders in finance. 

From the beginning, the event was positioned to be adjacent to the Milken Institute Global Conference to offer networking and access to firm and leaders that could not afford the registration fee that begins at $25,000 this year.

The Power100 event has since grown into its own destination with networking events, panels and a…