Alabama State University Forges Historic Partnership with Neuberger Berman for $125 Million Endowment

Alabama State University (ASU) is making waves in the realm of higher education with a monumental partnership that is set to redefine the landscape of financial support for historically Black colleges and universities (HBCUs). In a historic move, ASU has joined forces with the renowned private equity firm Neuberger Berman to manage the institution’s impressive $125 million endowment – marking the largest such collaboration between a Wall Street firm and a public HBCU to date.

This groundbreaking partnership represents far more than just a financial transaction; it signifies a powerful alignment of values, vision, and commitment to advancing education and opportunity for students of all backgrounds. For ASU President Quinton T. Ross, Jr., the collaboration with Neuberger Berman is nothing short of a “blessing” and a testament to the transformative impact it promises to bring to ASU and its community.

Through this partnership, ASU gains access to the expertise, resources, and global network of Neuberger Berman, empowering the institution to maximize the impact of its endowment in support of its mission of academic excellence and student success. With a focus on strategic investment and prudent financial management, ASU aims to leverage this partnership to enhance scholarship opportunities, faculty development initiatives, and campus infrastructure projects.

President Ross expressed his deep appreciation for the overwhelmingly positive impact of the partnership, highlighting the immense potential it holds for the future of ASU and its students. He emphasized that the collaboration with Neuberger Berman reflects ASU’s unwavering commitment to providing world-class educational experiences and opportunities for its diverse student body.

The significance of this partnership extends far beyond the confines of ASU’s campus, resonating throughout the broader HBCU community and beyond. By forging new pathways for collaboration between academia and the financial sector, ASU and Neuberger Berman are paving the way for increased investment in HBCUs and fostering greater equity and inclusion in higher education.

As ASU embarks on this exciting new chapter in its storied history, the university remains dedicated to its core values of excellence, integrity, and innovation. With the support of Neuberger Berman and the collective efforts of its faculty, staff, students, and alumni, ASU is poised to continue making a profound impact on the lives of individuals and communities alike.

In the journey toward a brighter, more equitable future for higher education, partnerships like the one between Alabama State University and Neuberger Berman serve as beacons of hope and inspiration. Together, they are demonstrating the power of collaboration, innovation, and shared purpose in driving positive change and unlocking new opportunities for generations to come.