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The four-day program attracted students from multiple HBCUs, including Florida A&M University, Howard University, and Tuskegee University, and featured alternative investment industry professionals who shared insights and mentorship, exposed students to a variety of career paths and helped students gain a deeper understanding of alternatives.

The Milken Institute's continued commitment to DEI across all areas and levels of the asset management industry includes the recent launch of an HBCU Fellow Program which connects resources to talent. HBCUs generate 25% of all bachelor's degrees in STEM fields for Black students in the U.S. yet are often an overlooked source of talent for the asset management industry.

"While awareness has increased, the percentage of assets under management controlled by women and diverse-owned firms in the US has only increased by 0.1% in the past 10 years," said Blair Smith, Senior Director, Center for Financial Markets, Milken Institute. "CAIA and The Milken Institute are aligned in the need to put diverse talent front and center and have joined forces to provide HBCU students with the knowledge, resources, and industry intelligence to succeed."

The program curriculum includes an overview of alternatives and a deeper dive into infrastructure, real estate, structured credit, and digital assets and is delivered through the Adaptive Growth Leadership Platform. Participating students also received scholarships to pursue CAIA's Fundamentals of Alternatives (FAI) program and an invitation to join CAIA's educational and network events in their local geographies.

Additionally, students from all HBCUs are invited to apply to join The Milken Institute HBCU Fellow inaugural cohort, which will launch in 2023. Applications are open until December 31, 2022.

This program is just one part of CAIA's larger global DEI (diversity, equity, and inclusion) agenda and long-term commitment to programs and partnerships that are accelerating industry change and creating greater accountability.

"CAIA is aligning with business leaders who understand the concentrated risks of homogeneous, group think to business outcomes, performance, innovation, talent recruitment and retention, and to the end investor," said Deborah McLean, Global Head of DEI and President of the CAIA Foundation. "Those who are not embracing DEI will be left behind and will no doubt lose out on specific and meaningful competitive advantages. There is a clear story to tell here, and one we look forward to continuing to champion in 2023 and beyond."

Press release
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