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 year of work, and we look forward to continued collaboration with the students and staff from each school over the next several years. This is just the beginning of our work, establishing a best-in-class alternative investment fellowship program.”
In September 2021, Shaw signed on as the new CEO to push for diversity in the industry. As previously reported by AfroTech, the Morehouse alum launched the application for the AltFinance Fellowship program, which was created to bring together national nonprofit Management Leadership for Tomorrow, representatives from Apollo Global Management, Ares Management, and Oaktree Capital Management, as well as the four HBCUs. The group has made a commitment of $90 million over 10 years dedicated to the students.
“HBCUs are a valuable, yet often overlooked, part of the global talent landscape,” said Shaw in an official statement shared with AfroTech at the time. “As alternative investments become a bigger part of the economy, we are excited to partner with leading firms to ensure HBCU students are exposed to career pathways and positioned for success in the industry.”