As they say at Columbia: "In lumine Tuo videbimus lumen." Or, for the rest of us: "In Thy light shall we see light."

Gamco [profile] chief Mario Gabelli has pledged to give $15 million to his alma mater, Columbia University. Gabelli graduated from Columbia Business School in 1967, according to Bloomberg.

The donation will go to help the business school build a new campus, according to Bloomberg.

The new business school facility is expected to cost about $600 million, of which $500 million has been raised, Bloomberg quotes Christopher Cashman, a spokesman. The newswire reports that it is scheduled to open in 2018, and will be part of Columbia University’s Manhattanville complex in upper Manhattan.

Henry Kravis, co-founder of private equity firm KKR & Co., and Ron Perelman, billionaire investor in Revlon and other companies, have each donated $100 million to the school and will have buildings named after them, according to Bloomberg.

Arthur Samberg, founder of Pequot Capital Management Inc., has also pledged $25 million to the project.

To read more, go to Bloomberg. 

Edited by: Tommy Fernandez


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