Entrepreneur and investment manager John A. “Mac” McQuown and his wife Leslie have made a $25 million gift to the University of Chicago to benefit the Booth School of Business, the school announced yesterday.
Their gift is in appreciation of two professors: Eugene Fama, the Robert R. McCormick Distinguished Service Professor of Finance at Chicago Booth, and a longtime business associate and friend of McQuown’s; and the late Merton Miller, a teacher and mentor to both McQuown and Fama. The gift will go toward a planned Fama”“Miller Center within Chicago Booth, which the school says will support the school’s strong tradition of finance research.
“In vividly acknowledging the depth and importance of their relationship to Gene, Merton and the finance faculty at Chicago Booth, the McQuowns are truly endorsing the power of ideas at the University of Chicago,” said Chicago Booth dean Edward Snyder when announcing the news.
McQuown is co”“founder of Diversified Credit Investments, a San Francisco”“based investment firm. He previously led a team at Wells Fargo that, in 1971, created the first index fund, based on Fama’s efficient market hypothesis and McQuown’s belief in the power of quantitative analysis to measure risk and return.
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