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David Tepper, founder of hedge fund Appaloosa Management, has given a further $67m to Carnegie Mellon University, the largest gift from a CMU graduate in the university’s history. The money is in addition to the $55m he gave in 2004 to the business school, which was renamed the Tepper school.
The latest gift will be used for building projects and an interactive hub to bring together the different disciplines on the CMU campus, as well as for a new building for the business school.
The Tepper Quadrangle, as it will be known, will be located on a 4.5-acre site and represents an initial investment of $201m by the university. The plan is to enable cross-campus collaboration and bring together interdisciplinary initiatives, such as entrepreneurship.
“There are natural intersections between the business school and the research and teaching taking place at each of the seven schools and colleges at Carnegie Mellon,” said Robert Dammon, dean of the Tepper school. As well as expanding undergraduate and graduate programmes, the school will be able “to offer a flexible technological framework that anticipates the needs of next-generation learning.” says Prof Dammon.