ATLANTA (TN TRIBUNE)–The “AltFinance: Investing in Black Futures”™, 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 established by the three founding investment firms. Each firm is committing $3 million a year over the next 10 years to fund the organization, marking the first significant multi-firm commitment to increase opportunities in the alternatives industry.
“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 President George T. French, Jr.
“We are truly grateful for Apollo Global Management, Inc., Ares Management Corporation, and Oaktree Capital Management, L.P. for their vision to partner and form AltFinance. This investment will undoubtedly empower Clark Atlanta’s scholars and prepare them to be globally competitive in the alternative investment industry. Additionally, this partnership with Clark Atlanta University will give our scholars much-needed scholarships, introductions to industry experts, create networking opportunities, and grant them access to resources from the University of Pennsylvania’s Wharton School and Management Leadership for Tomorrow. Clark Atlanta University students are extraordinary, and partnerships such as this open doors for them to show the world their brilliance.”