The Wharton School of the University of Pennsylvania has announced a $50 million gift from alumnus Marc J. Rowan (W'84, WG'85) and his wife, Carolyn, in support of faculty recruitment and retention and an innovative economic policy analysis program.
With the largest gift it has ever received, Wharton will recruit three Rowan Distinguished Professors to its Philadelphia campus, where they will work to build bridges between academia and the local business community. The gift also will support the appointment of a select number of Rowan Fellows to five-year terms in recognition of their commitment to research and teaching and will support the Penn Wharton Budget Model, which uses big data analytics to promote evidence-based policy solutions focused on key economic challenges facing the United States.
Marc Rowan is a co-founder and senior managing director of Apollo Global Management, LLC, an alternative asset manager focused on contrarian and value-oriented investments, and chair of Wharton's board of overseers, as well as a Penn trustee and co-chair of the school's More Than Ever fundraising campaign.
"With profound gratitude to Marc and Carolyn Rowan, I anticipate the tremendous impact of their philanthropy on the University of Pennsylvania," said Penn president Amy Gutmann. "Their investment in Penn's future will strengthen our intellectual resources, provide our students with life-changing mentors, and mobilize our knowledge for the advancement of society."