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Hawks Owner Tony Ressler’s Firm Joins $90M Partnership With Atlanta HBCUs

Tony Ressler, principal owner and chair of the board of the Atlanta Hawks, apparently came up with the idea and contacted other investment funds to partner with the colleges, according to the Wall Street Journal.
Tony Ressler, principal owner and chair of the board of the Atlanta Hawks, apparently came up with the idea and contacted other investment funds to partner with the colleges, according to the Wall Street Journal.
Credit BYRON E. SMALL / Courtesy of Atlanta Business Chronicle
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Three schools in the Atlanta University Center will receive $90 million to create a diverse pipeline of financial services workers.

Clark Atlanta University, Morehouse College and Spelman College will each get $3 million annually for the next decade from a partnership that includes Apollo Global Management, Inc., Oaktree Capital and Ares Management Corp., whose co-founder is Atlanta Hawks owner Tony Ressler.

The initiative, AltFinance: Investing in Black Futures, aims to diversify the alternative investment industry, made up of asset management companies engaged in private equity and credit, venture capital and real estate.

Read the full article at Atlanta Business Chronicle>>