These 2 HBCUs Received $4M Each To Train Students To Become Asset Managers

The United Negro College Fund (UNCF) wants to prepare the next generation of asset managers.

Since 1944, the UNCF has been committed to serving students in higher education, raising more than $6 billion to provide them with access, a news release mentioned. Its latest effort is focused on positioning students at Historically Black Colleges and Universities (HBCUs) with opportunities to become leaders in the asset management industry and secure careers in finance.

Project ACCLAIM

The UNCF received a $10 million gift from Adage Capital Management and Elizabeth and Phill Gross to jumpstart Project ACCLAIM in 2025, which first benefited students at Morehouse College and Howard University in fall 2025.

Project ACCLAIM (Accelerating Learning in Asset Investment Management) is designed to expand access to wealth-building opportunities in investment management by providing coursework, hands-on training, and co-curricular activities, according to the news release. Students also have access to a student-managed investment fund that offers real-world investing experience.

The initiative is designed to equip HBCU students with the financial acuity and real‑world experience needed to navigate the world in support of civil rights, fair employment, competitive wages, education access, and the empowerment of educational institutions, the news release noted.

Morgan State University

What’s more, its efforts have been expanded with Adage Capital Management and the Gross family now contributing another $10 million to broaden the program. Because of this, two HBCUs have each been awarded $4 million in investment capital to position students for careers in the asset management industry, including Morgan State University. According to the Baltimore Business Journal, students will be able to manage up to a $4 million investment in select companies in the stock market as well as the bond market. The investment in Morgan State University will strengthen its existing student-managed investment fund, which has grown to $250,000, per the outlet. Earnings from the fund are returned to the university to be reinvested in the program.

Morgan State University will receive an additional $250,000 grant for planning related to the investment program, the Baltimore Business Journal noted.

“Participation in Project ACCLAIM represents a transformative opportunity for our students at the Graves School,” said Royce D. Burnett, Ph.D., dean of the Earl G. Graves School of Business and Management at Morgan State University, in the news release. “Through the Student-Managed Investment Fund, our students will gain hands-on experience in asset management, portfolio analysis, and decision-making at a level rarely accessible at the undergraduate or graduate level. This initiative directly aligns with our mission to deliver rigorous, practice-based education while positioning our students for competitive careers in investment management and related financial services fields.”

Florida A&M University

The second HBCU to receive $4 million in investment capital is Florida A&M University (FAMU). Zion Hackney, a student in FAMU’s School of Business and Industry, expressed excitement about the opportunity to gain hands-on experience in the capital markets, according to a school press release. Finance student Candace Harrison at FAMU’s School of Business and Industry, stated that it will prepare her for a career in investment and asset management and will leave a lasting imprint on her education.