This just in!

Apollo Global Management, Inc., Ares Management Corp., and Oaktree Capital Management LP have just recently announced AltFinance: Investing in Black Futures – a nonprofit organization dedicated to helping Black students access high-earning careers upon graduating college.

These firms have pledged to invest $3 million a year over the next ten years to fund the organization. This marks the first multi-firm commitment to increase opportunities in the alternatives industry.

The initiative has partned with Clark Atlanta University, Morehouse College, and Spelman College. They will attract, train, provide career development, mentor fellowships, and scholarship opportunities for college students at these three HBCUs. Students selected for the mentored fellowships will work directly with an industry mentor and learn all the aspectives.

The fellowship program will run in partnership with Management Leadership for Tomorrow – a nonprofit organization working to ensure marking the first major multi-firm commitment to increase opportunities in these industries.