The gift will establish the C.T. and Kelley Fitzpatrick Center for Value Investing and fund research in the field; enhance the Culverhouse Investment Management Group, a student-led investment program; elevate the Fitzpatrick Endowed Chair of Value Investing to the C.T. and Kelley Fitzpatrick Endowed Director of the Center for Value Investing; and support enhancements to Crimson Tide athletic facilities.
The gift brings to $24 million the couple's total giving to the university, which includes a $3 million gift in 2015 to create the Fitzpatrick endowed chair as well as the Vulcan Value Partners Research Library and Trading Room, earning the UA business school recognition as the first in the nation to offer a value investing concentration at both the undergraduate and graduate levels. The founder and CEO of investment management firm Vulcan Value Partners, C.T. Fitzpatrick is a UA alumnus, a member of the university's President's Cabinet and of the Culverhouse College of Business Board of Visitors, and former chair of the Hewson Hall Building Campaign Steering Committee. Kelley Fitzpatrick is the daughter of Lewis Manderson, for whom UA's Manderson Graduate School of Business is named.
"We are doing this because the university has been a good steward of our initial investment. We think the additional investment can earn even higher returns and ultimately help more students, as well as benefit the university, the state, and the region," said C.T. Fitzpatrick. "To watch these students progress and see what they are doing is very gratifying. It becomes a virtuous circle where they go out and thrive and through their success are able to give back just as we have. That is the legacy, and we want to continue to build on it."
(Photo credit: University of Alabama)