# STERN BUSINESS Magazine | Altman–Paulson Initiative Expands Career Pathways in Finance

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##  Altman-Paulson Initiative Expands Career Pathways in Finance

*Through specialized coursework, internships, direct firm access, and mentorship, the initiative connects Stern undergraduates to top careers in credit, restructuring, and asset management.*

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At NYU Stern, the Alternative Investment Institute is expanding how undergraduates access and prepare for careers across the finance industry. Created to broaden awareness of careers spanning asset management, wealth management, private equity, hedge funds, and distressed investing, the Institute oversees a number of initiatives that blend rigorous academics with direct exposure to leading firms right here in New York City.

The first fully operational initiative, the Altman–Paulson Initiative on Credit & Distressed Opportunities, co-directed by Professors Matt Richardson and Dan Kamensky, connects students to an influential 21-member Advisory Board that includes John Paulson, founder and president of Paulson & Co., along with senior leaders from Apollo, Ares, BlackRock, Blackstone, Carlyle, KKR, Oaktree, and top restructuring boutiques such as Guggenheim, Houlihan Lokey, Lazard, Moelis, and PJT.

![Undergraduate students with Lee Kruter (BS ’00)](/sites/default/files/styles/medium_375px_wide/public/2026-06/lee_kruter_img_4223.jpg.webp?itok=D90a3-W4)

### Preparing students through rigorous academics, internships, and events

Through specialized coursework, practitioner-led workshops, company visits, and an annual conference, the initiative equips undergraduates with both technical knowledge and connections. Students who are accepted into the Scholars Program also have access to internships. The initiative’s student club, Special Situations Investing Group (SSIG), is open to all and has hosted leading practitioners on campus.

“Today, the epicenter of financial power has expanded well beyond traditional investment banks to include large alternative asset managers such as Apollo, Blackstone, Brookfield, Carlyle, Citadel, KKR, and others,” shared Matt Richardson, the co-director for the initiative. “Our students are absolutely capable of thriving at these firms and this program provides them with structured access, targeted preparation, and institutional support.”

### Alumni engagement further strengthens the initiative

Alumni have been excited to be part of the initiative. Stern Executive Board member Lee Kruter (BS ’00), Partner at GoldenTree Asset Management hosted a company visit for students interested in alternative investments and spoke to the SSIG during a lunch and learn session. Additionally, Steven Zelin (MBA ’91), partner and global head of the Restructuring and Special Situations Group at PJT Partners, participated in a symposium on bankruptcy and met with students. The initiative’s programming is further strengthened by Professor Emeritus Edward I. Altman, who serves as Academic Director of its bankruptcy and credit workshops, and who brings decades of leadership in credit risk and financial distress to Stern students.

## "TODAY, THE EPICENTER OF FINANCIAL POWER HAS EXPANDED WELL BEYOND TRADITIONAL INVESTMENT BANKS."

— Matt Richardson, co-director for the Initiative

### More opportunities through the Investment Management Initiative

The growth and diversification of hedge funds over the years has also created significant career opportunities for students. Similar to the Altman-Paulson Initiative, the new Investment Management Initiative connects students with practitioner-focused, high-rigor courses, experiential learning, internships, and an investment competition. Students can participate in the Managing Investment Funds, a year-long course which oversees the Michael Price Student Investment Fund (MPSIF). The fund manages $3 million of the NYU endowment and is designed to mirror a hedge fund structure. Stu-
dents conduct in-depth analyses, prepare investment committee–level pitches, and engage with external practitioner speakers.

“Stern has some of the brightest students studying finance. Through both of these initiatives, we are now positioned to create a pipeline for the very best students who are excited to pursue careers in alternative investments,” said Richardson.

[ Learn More About the Altman-Paulson Initiative ](/experience-stern/about/departments-centers-initiatives/altman-paulson-initiative)

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