Three HBCUs to Participate in $90 Million Alternative-Credit Investing Education Initiative

Clark Atlanta University (CAU), Spelman College and Morehouse College, three historically Black colleges and universities (HBCUs) have been selected to participate in a $90 million initiative to teach students about private equity or alternative-credit investing careers.

The “AltFinance: Investing in Black Futures” – announced by investment firms Apollo Global Management, Inc., Ares Management Corp. and Oaktree Capital Management LP – will be administered by ALT Finance Corp., a non-profit founded by the three firms, with each committing $3 million a year over the next 10 years to fund the organization.

“Investing in the future of our students at Clark Atlanta University is paramount toward the creation of pipelines designed to increase diversity in all industries, specifically the alternative investment industry,” said CAU President Dr. George T. French, Jr.

There will also be a virtual institute offering curriculum designed by the University of Pennsylvania Wharton School.