US investor Wilbur Ross has decided to invest in his alma mater with a $10m donation to the Yale School of Management as part of the school’s campaign to fun its new campus.

A member of the Yale School of Management board, Mr Ross received his undergraduate degree from Yale in 1959 and then went on to get his MBA from Harvard - Yale did not have a business school at the time. “When I was an undergraduate at Yale, my father died, and Yale was a beacon that provided financial support,” says Mr Ross, chief executive and chairman of WL Ross & Co. “This is a good opportunity to give something back.”

The Yale campus has been designed by architects Foster + Partners, the architectural firm chaired by Lord Norman Foster. The plans for the new campus were approved in March, and site preparation has already begun, close to the school’s existing building in New Haven, Connecticut. The library, for which Mr Ross has pledged $10m, will make use of the latest technology, as well as having quiet study space, publications collections, and librarian facilities.

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