The gift includes $3 million to fund the University of Chicago Center in Hong Kong, which is scheduled to open in July and will house Chicago Booth's Executive MBA Program in Asia, study abroad programs, and the Hong Kong Jockey Club Programme on Social Innovation. In recognition of the gift, a public space at the center will be named after Chenn.
The gift also includes $2 million for scholarships for full-time MBA students at Chicago Booth, and another $2 million in support of the Odyssey Scholarship Program for undergraduate students, for which a house in the Woodlawn Residential Commons, a residence hall that will open in the fall of 2020, will be named after Chenn. The remaining $3 million will go to the UChicago Innovation Fund, which is managed by the Polsky Center for Entrepreneurship and Innovation and provides proof-of-concept funding to UChicago-affiliated ventures and technologies with the potential to drive societal impact.
"Since my graduation from Chicago Booth many years ago, I have always appreciated the values and the principles that had been taught in this fine institution and the many great lifelong friends I had met there," said Chenn, the founder, CEO, and managing partner of equity investment management firm Oceanpine Capital and founder and chair of China Century Group. "I hope my contributions will help the university and Booth to attract the best students from around the world and enhance their global impact, particularly in Asia, with the new campus in Hong Kong."
(Photo credit: University of Chicago)