When Purpose Meets Passion, Amazing Happens … My Farewell to Private Equity
“If you can’t figure out your purpose, figure out your passion. For your passion will lead you right into your purpose.” — Bishop T.D. Jakes
Dear Friends, Peers, Colleagues, & Associates,
After almost thirteen years working in private equity at Muller & Monroe Asset Management, it is with mixed emotions that I have decided to move on to a new stage of my career. It has been an amazing journey helping to grow the firm to over $1 billion and working with such a talented group of professionals who became more like family. As a young kid on the Westside of Chicago, I never thought about being a private equity investor, because I never knew private equity existed. I was fortunate enough to have a mentor who founded a private equity firm and gave me an opportunity to join him at what was, and continues to be, one of a handful of PE firms led by African Americans.
Those of you who have followed my personal and professional journey know that I have a PASSION for financial education and addressing systemic issues around racial inequality. In 2016, I started One Stock One Future to turn One Million youth into public company shareholders to give them a sense of Hope, Inspiration, Empowerment, and Opportunity. In 2017, I started League of Superwomen to highlight women entrepreneurs that were growing scalable businesses. This vision around financial education and entrepreneurship has ignited a desire to have an even greater impact beyond what I am able to do in my current role.
With the spread of the Coronavirus pandemic, the subsequent killings of Breonna Taylor, Ahmad Arbery, and George Floyd (among countless others), along with the erupting protests and calls for social justice, I decided I needed to move on from M² in order to fulfill my PURPOSE. I received advice and counsel from numerous people in my network before making this decision, but I firmly believe at this stage of my life, this is the best move for me. I recognize the importance of capital in trying to solve the challenges of inequity, so I am seeking to do so from another angle. I will be pursuing some entrepreneurial ventures while also exploring opportunities to partner with corporate and philanthropic organizations that are making significant strides to improve equity and inclusion.
I have met some amazing people on this journey in private equity, and I expect to be in touch with many of you as I know you share a similar passion for racial justice and equity!
Again, I wish my colleagues at M² all the best, and I hope the asset management industry continues to push towards greater equity so that diverse professionals and asset managers have an opportunity to participate, be successful, and most importantly, be happy. I wish you all continued good health and prosperity, and I look forward to remaining connected. Please feel free to reach out to me anytime at rendel.solomon@gmail.com
-Rendel Solomon
As part of my next steps, I am launching a financial education course entitled FINANCIAL ENGAGEMENT.
Please visit www.FinancialEngagement.com to learn more about my effort to teach the five foundational elements of personal money management.
