Alger Recognizes Nurses from The Brooklyn Hospital Center on the Frontline of COVID-19

The Brooklyn Hospital Center (TBCH) is pleased to announce that Alger, a leading growth equity investment manager based in New York City, and its employees donated $400,000 to pay the outstanding student debt of the hospital’s nurse managers.

“While watching the news about the pandemic, I wanted to find a way to support our healthcare workers on the frontlines of this terrible crisis. Nurses are the backbone of a hospital, providing 24/7 care to patients, and too often are the unsung heroes of a crisis like this. I also knew that, while the U.S. has a shortage of nurses, we also have an educational system that saddles the typical nurse graduate with tens of thousands of dollars of educational loan debt. This led me to the nurse managers at TBHC, each of whom are remarkable individuals. I am thrilled that we can relieve their significant financial burden and thank them for their career commitments to those less fortunate in Brooklyn,” said Dan Chung, CEO and Chief Investment Officer of Alger.

In addition to financial aid, Alger also provided a stress management program for TBHC nurses throughout the summer. Designed with the rhythms of nursing work in mind, mindfulness expert Sam Chase led sessions three times a week from July to September. The sessions were available to all TBHC nursing staff. “Alger enabled TBHC to provide additional emotional support to the nurses who risked their lives caring for critically ill patients during the height of the COVID-19 crisis,” says Judy McLaughlin, TBHC’s Chief Nurse Executive.

“My passion for nursing has always been something that has guided me. But for me to know that others in the community see us as valuable players is so worthwhile. This is a heartfelt thank you from me,” said Nurse Manager of Labor & Delivery/Maternal-Child Mary Godineaux during the meeting when the gift was announced.

Since becoming CEO nearly 15 years ago, Chung, who lives in Brooklyn with his family, has focused on building a corporate culture at Alger that centers on philanthropy and giving back to the community, which is a natural extension of his personal endeavors. Alger’s employee-supported charitable initiative, the Alger Candlelight Giving Program, and the firm’s Matching Gift Program, are the platforms in which Alger and its employees demonstrate their commitment to giving back to the community and to those who are less fortunate.

The firm is especially passionate about supporting its local community, as evident in its many years of philanthropic activity. When Alger asked employees to participate in the TBHC nursing initiatives, more than 90% of the employees joined in.

“We are incredibly grateful to Alger for their support,” says Deborah Niederhoffer, Vice President of The Brooklyn Hospital Foundation & TBHC’s Chief Development Officer. “Thanks to the generosity of partners like Alger, our independent, community hospital is able to continue Keeping Brooklyn Healthy, and our staff as well.”