Hedge fund manager David Tepper has gifted Carnegie Mellon University with a $67 million donation.
Carnegie Mellon announced in a statement Friday that the money will go toward building an academic hub on the university’s Pittsburgh campus to be called the "David A. Tepper Quadrangle,” as well constructing a 295,000 square-foot building that will be a new home for the Tepper School of Business.
The founder of Appaloosa Management and an alumnus of CMU, Tepper’s $67 million donation will bring his total contribution to CMU in the last decade to more than $125 million. He currently serves on the university's Board of Trustees and as a member of the Business Board of Advisors for the Tepper School of Business.
Based in New Jersey, Appaloosa is one of the world’s largest hedge funds with more than $20 billion in assets under management.