(PXHere / CC0 Public Domain) In 2010, Alberto Ibarguen, president and CEO of the John S. and James L. Knight Foundation, walked into a conference room to speak with the most powerful and wealthy black people in the country. As he expected, he was asked about who manages the foundation’s assets. He told the group that out of the foundation’s $2.3 billion in assets, only $7 million was managed by an asset management firm not led by a white man. He could feel the air leave the room.