Howard University Looks to Expand Opportunities in Investment Banking for African Americans

Howard University recently announced that it has received a $10 million gift from HPS Investment Partners and The Kapnick Foundation. The gift will be used to create the HPS Center for Financial Excellence at Howard University School of Business. The center will focus on helping students better prepare for careers in private investment and investment banking.

The new HPS Center for Financial Excellence at Howard University School of Business will serve as a platform for experiential learning, giving students access to the latest technology and relevant software through the expansion and enhancement of a finance lab. The center will also introduce a unique academy for finance students to take advantage of professional development opportunities, internships with HPS Investment Partners, and focused recruitment opportunities with other firms. In addition to the physical space, the gift will support the development of new programs and curricula to teach students the fundamentals of private equity, investment banking, and investment management.

The gift will also establish two endowed scholarship funds to help cover the cost of tuition for undergraduate and graduate business students. The HPS Partners Endowed Scholars program will award annual scholarships to cover the tuition costs of undergraduate business students. The Kapnick Foundation Endowed Scholars program will support graduate students in Howard University’s JD/MBA program by providing tuition assistance for the MBA portion of their degree.

“African-American students have historically been overlooked in recruitment efforts for careers in private investment and investment banking, but many firms are beginning to recognize the need to build a more diverse pipeline and the tangible benefits it has for their businesses,” said Howard University School of Business Dean Anthony Wilbon. “We could not be more grateful to HPS and The Kapnick Foundation for making this tremendous investment in Howard students. This partnership will make a major difference by providing a pathway for Howard students to become leaders in these important sectors of the financial service industry.”

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