Columbia Business School in New York City has announced gifts from three alumni totaling $45 million in support of strategic initiatives in curriculum and faculty development.
A $25 million one-to-one matching grant from Arthur J. Samberg, '67, will be used to endow a number of chairs, help recruit faculty in emerging subject areas, and strengthen the school's existing faculty. A $10 million gift from Russell L. Carson, '67, will support the school's Business Practice Partnerships program, which allows faculty to team with corporate leaders through sabbaticals, internships, and research partnerships, as well as grow the school's Social Enterprise Program. And an unrestricted $10 million gift from Henry R. Kravis, '69, will help underwrite a new center for case-study development, advancing the development of a Columbia Business School case model emphasizing short cases with strong quantitative and analytical data and real-time decision making.
All three donors are leaders in the investment community. Carson is a founding partner of Welsh, Carson, Anderson & Stowe, a private equity firm and a leader in healthcare and information services investing. A legendary private-equity investor, Kravis pioneered corporate acquisitions through his firm Kohlberg Kravis Roberts & Co. Samberg is chairman and CEO of Pequot Capital Management, one of the world's leading hedge funds. Carson and Kravis are also co-chairs of Columbia Business School's board of overseers, and Samberg is a member of the executive committee.
"These impressive commitments to Columbia Business School are powerful signals not only of the school's core importance to the future of the university, but also of the momentum Columbia is now building toward a critical mass of excellence across every field of undergraduate and graduate education," said Columbia president Lee Bollinger.