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Wal-Mart Minority Business
Wal-Mart Establishes $25 Million Fund For Women/Minority Operations BENTONVILLE, Ark. -(Dow Jones)- Wal-Mart Stores Inc. (WMT) said it plans to invest $25 million to establish a private-equity fund that will directly issue equity investments in women- and minority-owned businesses.
In a press release Tuesday, the world's largest retailer said the co- investment management fund, which will have an allocation life of five years, will be managed by Aldus Equity, a Dallas private-equity advisory firm.
Aldus, which will manage the investment application review process, said prospective candidates must be in the business of or have the capacity to distribute products and services to major retailers.
Wal-Mart noted it will look for entrepreneurs who can serve the retailer and help drive supplier diversity in the sector.
The first investments are expected to be completed within the next three to six months, with total investment going to between five and nine companies over the life of the fund.
A representative for Wal-Mart wasn't immediately available for comment on the returns the company was expecting from the fund.
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