The Metropolitan Transit Authority of Harris County (METRO) pension board now requires at least one emerging manager to be included in every search going forward- a rule they’ve named the “Garcia Rule” after METRO Chairman and our Managing Partner, Gilbert Garcia. The rule is similar to the NFL’s Rooney Rule, which requires at least one minority candidate to be brought forward for coaching and front office positions. METRO defines emerging managers as women-owned, minority-owned, veteran-owned, disabled American-owned or firms less than $1 billion in asset size at the time of hiring.

To learn more about the Garcia Rule, check out this article from Emerging Manager Monthly.