Howard University has announced a $10 million gift from HPS Investment Partners and the Kapnick Foundation in support of efforts to prepare students for careers in private investment and investment banking.

The gift will create the HPS Center for Financial Excellence at Howard University School of Business as a platform for experiential learning and provide finance students with professional development opportunities, internships with HPS, and focused recruitment opportunities. In addition, the HPS Partners Endowed Scholars program will award annual scholarships to cover the tuition costs of undergraduate business students, while the Kapnick Foundation Endowed Scholars program will provide tuition assistance for graduate students in the JD/MBA program.

"When Black professionals have struggled to succeed in the financial industry, they have been held back by a lack of access and opportunity, not a shortage of talent or capability," said Howard University president Wayne A.I. Frederick. "This problem requires a pipeline from HBCUs to major firms within the industry. But in addition, we have to provide our students with the best experiences available, so they are positioned to compete for top jobs and move the industry forward as they excel in their careers. This gift from HPS and the Kapnick Foundation will play an instrumental role in helping to advance these efforts."

(Photo credit: Howard University)