The Knight Foundation is going to make sure the people charged with investing its vast endowment aren’t entirely homogeneous. It’s not just a push for diversity’s sake–it’s also a push for better returns. In order to create the cash flow necessary to continue issuing grants year after year, most foundations reinvest the majority of their endowment in the open market. Historically, however, major funders haven’t thought a lot about how to use that process itself to do more good.