‘I find it rewarding to build communities and to help others achieve their goals’

myGwork sat down with Jay Nam, an Associate at Blackstone, to discuss growing up in an immigrant family, his journey to accepting himself, and how these things now shape his work to support others.

Jay Nam’s story follows the path of the American dream: the son of immigrant parents from Korea, he was raised in Southern California as his parents worked tirelessly to support him and his older sister. From watching his parents clean houses and wait tables to pay rent in Los Angeles, Jay came to understand the first lesson which would shape his worldview: that education would be the path to uplifting not only his situation but that of his family. Through education, he learned the second lesson that has stuck with him since – the value of community. Whether it was debate, R&B, or his Korean heritage, Jay quickly found lifelong communities and friendships that have remained with him since.

“I was always drawn to the idea of celebrating diversity and led the business diversity club in college. I find it rewarding to build communities and to help others achieve their goals, and I’ve carried this idea with me throughout my life,” he notes, discussing the impact these lessons have had on shaping the way he engages with the world.

“Seeing legislation being passed against gay rights made me hide deeper into the closet.”

Growing up, however, was not without its share of obstacles to navigate. “I struggled with self-acceptance and identity,” Jay recalls, examining both the effects of growing up in a conservative immigrant family and the stresses of legislation affecting the LGBTQ+ community being debated. “Seeing legislation being passed against gay rights made me hide deeper into the closet.”

It wasn’t until he got to Boston College that he came to terms with his identity, aided by a supportive network of friends, and began the arduous task of coming out – to himself, to those around him, and to his family. His parents, conservative in nature, were a challenge at first – but this has only improved with time. After a rocky start, they’re reconnecting, and his parents have made “genuine attempts to repair the relationship.” Jay simply views it as part of the long journey to acceptance and takes it in his stride.

Having now accepted his identity, Jay now turns his efforts to supporting others. He volunteers with the Ali Forney Centre (AFC), which provides shelter to homeless LGBTQ+ youth, and has thrown himself into OUT Blackstone, the company’s LGBTQ+ network. “I’ve found an incredibly supportive network of LGBTQ+ employees and allies who are committed to creating an inclusive workplace.” The OUT Blackstone network, as well as the AFC, are all part of Jay giving back to his communities in a way that is authentic.

At Blackstone, Jay works on alternative asset investment, specialising in Secondaries. “When I heard about the opportunity to join, I knew I couldn’t pass it up. Secondaries span every industry, geography, asset class, and part of the capital structure; there is no other area of investing that offers the breadth of exposure that Secondaries does.”

The proof is in the pudding: Blackstone Strategic Partners recently announced over $25 billion worth of commitments across two funds, and Jay is incredibly proud to be part of the hard-working team that helped to make it possible.

At work, he feels he doesn’t have to worry about his identity in the way he had in the past. He was transparent about being LGBTQ+ from his interview onward. Through his COO, David Corey, he was introduced to OUT Blackstone, and now finds that the company is supportive of him in his advocacy as well as his work.

“I thought it might be difficult to connect with other LGBTQ+ employees due to the hybrid environment [introduced due to Covid-19]. However, finding community became easy; we were able to connect virtually and in-person through events like Pride Happy Hour and by listening to amazing speakers like Congressman Ritchie Torres, the first openly gay Afro-Latino man elected to Congress.”

Advocacy for Jay is both internal and external, thanks to the network: he’s the recruiting lead of OUT Blackstone and has used this position to support LGBTQ+ employees within the organisation as well as advocate for initiatives to support those entering the business. The highlight of this came when, in partnership with the AFC, Jay helped to organise an LGBTQ+ investor event, which both boosted the profile of the centre and built upon community foundations for LGBTQ+ investors within the alternative asset investment industry.

“Understanding the unique perspectives and challenges that individuals have faced enables us to support our employees in a comprehensive way and to build a better culture.”

The Ali Forney Centre is an issue close to Jay’s heart and he’s proud to be involved with them. “Given my tough experience coming out, I knew that I wanted to get involved with an organisation that helped those who were in my situation.” He now sits on the Centre’s Emerging Leaders Council, and he uses his position to help mentor and fundraise for some of the most vulnerable youth in New York City. Only last year, the centre successfully raised money to open housing for trans people in Harlem, to support trans and gender non-conforming youth better.

Representation is another issue close to Jay’s heart, and he’s proud to be doing his part at the AFC – and at Blackstone – to raise the profile of representation. “I think representation is still fairly limited within specific niches of finance, like alternative assets,” he thinks. “At OUT Blackstone, we are advocating for greater visibility and fostering community for LGBTQ+ folks in all aspects of finance.”

Representation, ultimately, is part of supporting meaningful intersectionality in spaces, and Jay knows this. “Understanding the unique perspectives and challenges that individuals have faced enables us to support our employees in a comprehensive way and to build a better culture.”

At Blackstone, that includes a particular focus on increasing the visibility of Black, Hispanic, Native American, and trans and gender non-conforming people, to help make finance as inclusive and representative as it should be. For Jay, he’s making sure that – against the backdrop of legislation targeting marginalised communities – young LGBTQ+ people can grow up and see themselves in careers and communities that they traditionally may not have.

Blackstone is a partner of myGwork. You can check out their job opportunities here.