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School News

May 11, 2006

Three Alumni Pledge a Total of $45 Million for Curriculum, Faculty Development

Columbia Business School announced today that three prominent alumni will make extraordinary gifts to the School totaling $45 million. Russell L. Carson and Henry R. Kravis each will donate $10 million, and Arthur J. Samberg will give $25 million.

Russell L. Carson ’67, Henry R. Kravis ’69 and Arthur J. Samberg ’67 will donate a total of $45 million that will help the School launch strategic initiatives in curriculum and faculty development.

All three donors are leaders in the investment community. Carson is a founding partner of Welsh, Carson, Anderson & Stowe, one of the country’s largest private equity firms. Kravis, a private equity investor, pioneered corporate acquisitions through his firm, Kohlberg Kravis Roberts & Co. Samberg is chairman and chief executive of Pequot Capital Management, one of the world’s leading hedge funds.

“These alumni have demonstrated a commitment to cultivating ideas that will help business schools shape society and foster growth,” Dean Glenn Hubbard said. “Their commitment represents an unprecedented endorsement of Columbia Business School, its teaching approach, faculty, relevance and future plans.”

Samberg’s $25 million donation will endow chairs through a matching grant, which will be used to recruit faculty in growing subject areas and to strengthen the School’s existing faculty. Carson’s $10 million gift will support the School’s Business Practice Partnerships, which allow faculty to team with corporate leaders through sabbaticals, and the Social Enterprise Program. Kravis’s $10 million donation will underwrite a new center for case study development, advancing the development of a School case model.