The Milken Institute has officially opened applications for the 2025 cohort of its expanded Historically Black Colleges and Universities (HBCU) Fellowship program. This eight-week academic curriculum, combined with a summer practicum, aims to create fast-track opportunities for underrepresented students in asset management careers. The program is designed for HBCU sophomores and offers professional development, personalized mentorship, and exclusive networking opportunities with industry leaders, including access to Milken Institute conferences.
In celebrating the completion of its second cohort, the Milken Institute is expanding the fellowship from a one-year program to a multi-year commitment. This includes continued mentorship, two summer practicums, and a focus on helping students secure full-time jobs in the asset management industry.
Troy Duffie, Director of Financial Markets at the Milken Institute, emphasized the importance of the fellowship in increasing diversity within the financial services sector. He stated, “The success of the HBCU program highlights our commitment to creating a more diverse and inclusive business community. We’re excited to expand the program and help students secure employment opportunities.”
Despite HBCUs’ history of producing financial leaders, their talent pool has been largely overlooked in the investment industry. Women- and diverse-owned firms control only 1.4% of the $82 trillion managed by U.S. asset managers, showing minimal growth over the past decade.
Launched in February 2023, the fellowship aims to broaden the talent pipeline and promote diversity in asset management. The second cohort included 20 students from HBCUs like Alabama State, Howard, Morehouse, and North Carolina A&T, while the inaugural cohort featured 16 students from various HBCUs across the country.
