ATLANTA, June 15, 2021 / PRNewswire / – Clark University of Atlanta (CAU) is one of three historically black colleges and universities to be part of a $ 90 million joint initiative to prepare students for professions in private equity or investment in alternative credit.

“Investing in the future of our students at Clark University of Atlanta is essential for the creation of pipelines. “

The “AltFinance: Investing in Black Futures” ™ initiative, announced today by leading investment firms, Apollo Global Management, Inc., Ares Management Corp. and Oaktree Capital Management LP, is an industry first initiative. It will be administered by ALT Finance Corp., a non-profit organization created by the three founding investment firms. Each company is committed $ 3 million one year over the next 10 years to fund the organization, marking the first significant multi-firm commitment to increase opportunities in the alternatives industry.

The initial partnership of the AltFinance initiative will be with Clark University of Atlanta, Morehouse College, and Spelman College. It is designed to diversify the alternative investment industry by attracting, training, and offering career development, framed scholarship, and scholarship opportunities to students from the top three HBCUs, all of which are part of the Atlanta University Center Consortium (AUCC). .

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

“We are truly grateful to Apollo Global Management, Inc., Ares Management Corporation and Oaktree Capital Management, LP for their vision to partner and form AltFinance. This investment will undoubtedly strengthen Clark from Atlanta academics and prepare them to compete globally in the alternative investment industry. In addition, this partnership with Clark University of Atlanta provide our researchers with much-needed scholarships, presentations to industry experts, create networking opportunities and give them access to the resources of the University of Pennsylvania Wharton School and Management Leadership for Tomorrow. Clark University of Atlanta the students are amazing, and partnerships like this open doors for them to show the world their shine. “

In addition, there will be a virtual institute offering a program designed by the University of Pennsylvania Wharton School.

Students selected for the Supervised Scholarships will work directly with an industry mentor and learn all aspects of finance and alternatives. The scholarship program will be managed in partnership with Management Leadership for Tomorrow (MLT), a national non-profit organization that strives to ensure this is the first major multi-company engagement aimed at increasing opportunities. in the alternatives industry.

About Clark University of Atlanta

Created in 1988 by the historic consolidation of Atlanta University (1865) and Clark College (1869). Clark University of Atlanta continues a 150-year heritage rooted in African-American tradition and focused on the future. Through global innovation, transformative educational experiences and high-value engagement. CAU cultivates high lives that transform the world. Notable alumni include: James weldon johnson; American civil rights activist, poet and songwriter (Lift Every Voice and Sing “The Black National Anthem”; Ralph David Abernathy Sr., American civil rights activist; Congressman Hank johnson, Georgia District 4; Kenya Barris, award-winning American television and film producer; Kenny Leon, Broadway director, Tony Award winner; Jacques reid, Emmy-winning television personality and journalist; Brandon thompson, vice president of diversity and inclusion for NASCAR; Valeisha Butterfield Jones, Head of Diversity and Inclusion at the Recording Academy. To learn more about Clark University of Atlanta, visit www.cau.edu.

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SOURCE Clark University of Atlanta