Hedge Funds

Fletcher commemorates desegregation

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Commemorating the 50th anniversary of the Brown vs. Board of Education court decision that ended legal segregation of U.S. schools, Alphonse Fletcher of New York-based Fletcher Asset Management in May pledged $50 million for initiatives that support the legacy of the landmark case.

The gift from the prominent African-American hedge fund manager will be used to establish a number of awards and fellowships for writers, artists and academics that will take the form of $50,000 grants.

Fletcher's $50 million gift will also go to support a number of causes and civil rights organizations and institutions, including the Howard University