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Hedge fund founder John Paulson gives USD20m to NYU Stern

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NYU Stern alumnus John Paulson, founder and chairman of hedge fund Paulson & Co, has given a gift of USD20m to NYU Stern.

Paulson’s gift will endow two faculty chairs – the Alan Greenspan Chair in Economics and the John A. Paulson Professor of Finance and Alternative Investments – as well as provide significant support for the school’s Concourse Project, a major facilities renovation currently underway, and scholarship aid for undergraduate students.

“We are extremely grateful for John’s support,” says Thomas F. Cooley, dean of NYU Stern. “His generous gift will not only further strengthen Stern’s research capability, particularly in the areas of finance and economics, and provide scholarships for undergraduate business students, but it will also help us provide our students with a modernised learning environment that matches the high quality educational experience we deliver.”

Paulson says: “NYU Stern, like other universities, faces financial pressures in the current environment and relies on the support of its alumni. I am grateful for the education I received at Stern. My hope is that this gift will advance the School’s mission as a global leader in business education and economic research as well as provide scholarships to gifted students with financial needs.”

The Stern School will apply USD5m of John Paulson’s gift to support two endowed faculty chairs. The first chair is named for alumnus Alan Greenspan, economist and former chairman of the Federal Reserve Board.

The second chair, named the John A. Paulson Professor of Finance and Alternative Investments, is held by Professor of Finance Lasse H. Pedersen, who is the first John A. Paulson professor. Professor Pedersen’s research focuses on how liquidity risk affects security prices, trading, funding and risk management, its relevance highlighted by the recent liquidity crisis in the global financial markets.

The remaining USD11m of the gift will support the Concourse Project, the cchool’s most significant campus renovation since the consolidation 20 years ago of the undergraduate and graduate programmes in buildings on Washington Square. The project has modernised classrooms and study spaces, created a more open, light-infused learning environment, and connected the school’s two primary buildings, the Henry Kaufman Management Center and Tisch Hall. The school has named the first floor lobby of Tisch Hall and the school’s auditorium in Paulson’s honour.

New York University Stern School of Business, located in the heart of Greenwich Village, offers a broad portfolio of academic programmes at the graduate and undergraduate levels.

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