Prudential Financial the $1.4 trillion global investment management business based in Newark, New Jersey, is launching an HBCU investment initiative aimed at providing investment management education and training for HBCU decision-makers who manage endowments.
According to a Brookings Institution report, in 2020, the 10 largest endowments at historically Black colleges and universities totaled $2 billion, compared with $200 billion for the endowments at the 10 largest predominantly White institutions.
The new program, called HBCU Strategic Initiatives, will also provide students with real-world investing experience, help set up and maintain student-run investment funds, and will establish scholarships for HBCU students.
The goal of the program is to provide investment management education and training for HBCU decision-makers who manage endowments in order to boost endowment performance and therefore reinforce the financial stability of HBCUs.
