NYU Stern Receives $20 Mil Gift from Hedge Fund Founder

stacks of moneyNYU Stern School of Business announced Friday that alumnus John Paulson, founder and chairman of hedge fund Paulson & Co., Inc., has given a gift of $20 million to NYU Stern.

This gift will endow two faculty chairs ”“ the Alan Greenspan Chair in Economics and the John A. Paulson Professor of Finance and Alternative Investments ”“ as well as provide approximately $11 million for the school’s Concourse Project, a major facilities renovation currently underway, and scholarship aid for undergraduate students, the school explained in a statement announcing the news.

Paulson, who graduated with a bachelor’s degree from Stern in 1978, is one of the largest alternative asset managers in the world and also a member of Stern’s board of overseers.

“We are extremely grateful for John’s support,” said Thomas F. Cooley, dean of NYU Stern. “His generous gift will not only further strengthen Stern’s research capability, particularly in the areas of finance and economics, and provide scholarships for undergraduate business students but it will also help us provide our students with a modernized learning environment that matches the high quality educational experience we deliver.”

(image courtesy of Flickr user purpleslog, CC 2.0)

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