Marcelia Freeman: Women in PE, class of 2024

Being of service to others is a motto that has guided Marcelia Freeman throughout her two-decade career in private equity and investment management.

Whether it’s playing a pivotal role in Clearlake Capital’s 2022 fundraises, most notably Clearlake Capital Partners VII, which closed at more than $14.1 billion, or managing investor relationships at past employer EIG Global Energy Partners, Freeman revels in giving it her all. “I don’t leave anything on the field,” she says.

It’s a thought process that has led her to make diversity a key issue in her life and advocate for professionals from underrepresented groups to break through barriers and overcome challenges in business. In addition to being a popular speaker at various high-profile industry events focused on women and diversity, Freeman has also frequently advised several startups led by underrepresented founders.

“I aim to be for others exactly what I needed when I was younger”

“I’ve never had a mentor or role model,” says Freeman, who has an MBA from Harvard. “So I aim to be for others exactly what I needed when I was younger. Sometimes that means providing guidance, other times making connections. I don’t let opportunities to serve others pass by me.”

Showing she walks the talk, Freeman, based in Santa Monica, is on the boards of directors of the National Association of Securities Professionals and the Florida A&M University Foundation, where she is chair of the investment committee. Under her leadership of the latter – which is the endowment for her undergraduate alma mater – minority and women managers now represent over 35 percent of the foundation’s portfolio.

Freeman’s interest in private equity began at Harvard when she took a class on the subject. “I was fascinated by the business of investing in companies and making them better,” says the Montgomery, Alabama, native.

After graduation, Freeman took an institutional sales role at Invesco. Later, she moved into a product specialist role at WL Ross & Co and Invesco Private Capital, a PE fund of funds investing in small and new managers.

For Freeman, her visibility in an industry that can be lacking in diversity is essential “for those that can’t imagine that a shy black woman with curly hair, Southern roots and a degree from an HBCU (historically black colleges and universities) could occupy this niche space of private equity fundraising and be successful.”

Freeman adheres to what she calls the “platinum rule”: treat others how they want to be treated, not how you want to be treated. “That requires empathy, understanding and active listening,” she explains. “[It] allows me to move with love and grace for others, which hopefully is reflected in my actions and interactions at work and in my personal life.”