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A celebration is even better when it involves supporting your community. AltFinance is giving a helping hand to Historically Black Colleges and Universities (HBCUs) in alignment with its one-year launch anniversary. According to a press release shared with AfroTech, the company is donating $2 million to HBCU partners, Howard University, and the Atlanta University Center institutions: Clark Atlanta University, Morehouse College, and Spelman College. A donation of $500,000 will go to each of the schools for their alternative investment fellowship program in an effort to help HBCU students venture successfully into the alternative asset management industry. “The partnership between these four colleges and universities and AltFinance has already begun to create meaningful and lasting impact for HBCU students, the alternative investments industry, and our shared future,” stated Marcus Shaw, CEO of AltFinance, per the press release. “We have established a solid foundation in our first...
ALT Finance Corporation (AltFinance) has a new leader! Earlier this month, the company named Marcus Shaw as its Chief Executive Officer, where he will take the organization to new heights as it looks to continue its mission to increase diversity across the alternative investment industry. Hopping right into his role, Shaw has launched the application for the AltFinance Fellowship program at the following Historically Black Colleges and Universities (HBCUs): Clark Atlanta University, Howard University, Morehouse College and Spelman College. The program was created to align with national nonprofit Management Leadership for Tomorrow, representatives from Apollo Global Management, Ares Management, and Oaktree Capital Management, as well as the HBCUs. “HBCUs are a valuable, yet often overlooked, part of the global talent landscape,” said Shaw in an official statement shared with AfroTech. “As alternative investments become a bigger part of the economy, we are excited to partner with...
North Carolina’s Fayetteville State University has landed a whopping donation set to support its students further. WTVD-11 reports that the HBCU received an anonymous donation of $750,000. The donation will aid Fayetteville State University’s free summer school called 30/60/90. The outlet details that the summer school program works to assist students with decreasing their student debt. What’s more, it focuses on students earning their degrees early. According to the summer school program’s website, the scholarship covers two courses or up to seven credit hours for undergraduate students, one course or up to three credit hours for graduate and doctoral students in the College of Education, book rental fees, other fees, and on-campus housing and meals. “The financial aid, they help me,” Deborah Cathcart, a rising sophomore student at Fayetteville State University, said per WTVD-11. She continued, “It helps me so much…this school, they introduce such an easy and just a practical way...
Clark Atlanta University (CAU) has announced itself as a partner of a joint initiative that aims to introduce its students to careers in private equity. According to a press release, CAU is one of three Historically Black Colleges and Universities (HBCUs) — others being Morehouse and Spelman College — to join the first-of-its-kind industry initiative powered by non-profit ALT Finance Corp. and leading investment firms Apollo Global Management, Inc., Ares Management Corp. and Oaktree Capital Management LP. The $90 million initiative — formally known as “AltFinance: Investing in Black Futures”™ — was launched as part of an effort to prepare HBCU students to pursue alternative career paths in private equity or alternative-credit investing. Additionally, all three investment firms have committed to donating $3 million each per year for the next 10 years to fund ALT Finance Corp., marking this as the first significant multi-firm commitment to generate more opportunities in the...