Alabama State University Selects Private Wall Street Firm to Manage Endowment

Historically Black Alabama State University has announced that it has partnered with Neuberger Berman, a private New York City financial firm, to manage the university’s $125 million endowment. According to Alabama State University and Neuberger Berman, their partnership is the largest collaboration of its kind between a historically Black college or university and a Wall Street firm. In addition to financial guidance, Neuberger Berman will offer internship programs to Alabama State University students, potentially leading to full-time positions after graduation. “We are very excited to announce this new partnership, which not only addresses the long-term stability of the institution, but also will help to provide financial support for our current and future students,” said Quinton T. Ross, Jr., president of Alabama State University. “Our endowment generates much-needed revenue for the university. Having Neuberger Berman as a management partner for the endowment ensures that students will continue to benefit from our efforts.” The post Alabama State University Selects Private Wall Street Firm to Manage Endowment appeared first on The Journal of Blacks in Higher Education.