Private equity has become favored as a haven for investors seeking to generate higher returns while improving portfolio diversification. Recent estimates suggest that private equity firms currently manage $4.74 trillion in assets, a number that could grow to as much as $9.11 trillion by 2025. The impacts of private equity are not contained to the investors who recoup its profits but also extend to the broader economy. Despite private equity’s popularity as a portfolio diversification mechanism, the industry itself has remained largely homogenous. The private equity industry is generally dominated by white men, particularly at the highest levels. One study found that 3.4% of the industry's assets are managed by women-owned firms and 3.8% are managed by minority-owned firms, significantly lagging both the US demographic composition and the college-educated US labor force composition. These figures persist despite evidence that women- and minority-owned funds’ investment performance is at least as strong as their counterparts. The lag in assets managed by diverse-owned firms compared to their positive return evidence points to a difference in fundraising performance between diverse-owned firms and their counterparts. To understand the lag in assets managed by diverse-owned firms, this thesis examines fundraising performance in relation to diverse firm ownership. We answer three questions: (i) What is the relationship between diverse ownership of a firm and their fundraising goals? (ii) What is the relationship between diverse ownership of a firm and their achievement of fundraising goals? (iii) What is the relationship between diverse ownership and period of time fundraising?