Investment Firm That Funds Businesses by People of Color and is Run by Obama’s Adviser Gets Backing From BDT Bank
Investment and advisory firm Pendulum, which funds and consults with businesses founded by people of color and has high-profile clients, including former President Barack Obama, is getting a new infusion of capital from Merchant bank BDT & Co.
BDT specializes in providing advice and long-term capital through its affiliated funds to help the family- and founder-led businesses pursue their strategic and financial objectives.
Husband and wife duo Robbie and D’Rita Robinson serve as chief executive and chief operating officer of the firm, which is reported to be staffed by people of color primarily.
The funds from BDT will be used to continue to build Pendulums staff, they told the Wall Street Journal.
Mr. Robinson is best known for advising Barack and Michelle Obama on their personal finances after they left the White House.
To be clear, the Obamas are not reported to be investors in the funds launched by Robinson, although the pair do remain in touch on financial matters, according to Vox news.
Pendulum, which launched in 2019, has kept quite a low profile. It has granted just one interview from what we can see.