NAA names interim chief, plans expanded focus

New America Alliance, a nonprofit that represents Hispanic business interests and counts private equity as the bulk of its membership, plans to broaden its mission.

Maria del Pilar Avila, who had been the organization’s CEO since 2010, recently stepped down and joined the NAA’s board. She was the NAA’s founding executive director from 1999 to 2005.

Danielle Beyer, former director of business development at 55 Capital Partners, has stepped in as interim CEO as NAA searches for a new leader. Beyer also worked at Mariner Investment Group in investor relations, and at NatCity Investments (now PNC), on special situations, according to NAA’s website.

NAA, formed in 1999, organizes events for education and networking and meets with public institutions to enhance exposure to Hispanic-led businesses, including emerging PE firms. NAA’s members represent assets under management of about $70 billion. Ten NAA member firms manage more than $1 billion in assets.

NAA has worked with large public institutions, like California State Teachers’ Retirement System, to try to increase emerging-manager representation.

Emerging managers, many of whom are minorities, have become a popular focus for LPs. Fundraising for emerging-manager funds is strong but recently has become more challenging as LPs navigate the uncertain environment by turning to their current managers and committing to established firms.

Moving forward, the NAA, which counts more than 100 American Latino entrepreneurs and business leaders as members, is shifting the way it approaches its mission, which is to “advance the economic development of the American Latino community.”

Instead of one large annual summit in New York, it will host four regional events, in New York, Los Angeles, Chicago and Austin, according to NAA spokesman Richard-Abraham Rugnao. These events are for education and networking.

The regional meetings “will allow the organization to extend its reach further,” Rugnao said. “To grow membership or support members in those key markets.”

NAA also will expand its traditional focus on working with public pensions to the endowment and foundation community, Rugnao said. “Foundations and endowments is a dynamic space and is the next logical step for the organization,” Rugnao said in an email.

Action Item: Reach Danielle Beyer at dbeyer@naaonline.org

Photo of Danielle Beyer courtesy of NAA