Amid Racial Reckoning, A Push To Diversify College Investment Strategies As the country undergoes a racial reckoning, GBH News surveyed Williams College and ten other colleges in Massachusetts with large endowments and asked how many asset managers they invest with are Black or brown. The collective answer: They're not saying much. aimintang/Getty Images Share While Steven Rogers was serving as a trustee of Williams College in the 2000s, the business school professor urged his alma mater to invest at least some of its endowment dollars with Black-owned asset managers. He appealed directly to the chairman of the college’s finance committee.