May 11, 2015

Schwarzman Profiled by The New York Times for Historic Gift to Yale

Blackstone Chairman, CEO, and Co-Founder, Stephen A. Schwarzman highlighted today by The New York Times for a $150 million personal gift to his alma mater, Yale University, to create a world-class, state-of-the-art campus center by renovating the historic Commons and Memorial Hall. The Schwarzman Center at Yale will provide, for the first time, a dedicated facility for cultural programming and student life at the center of the campus, that will draw together undergraduates, graduate students, faculty, staff, alumni, and visitors alike. The  university-wide center will serve as campus educational, social, and cultural hub while enabling virtual engagement with global audiences. The donation marks the second largest single gift in Yale’s history.

“My hope is that the Schwarzman Center will serve as the crossroads for the campus, but also place Yale at the crossroads of the world,” said Stephen A. Schwarzman, Blackstone co-founder, Chairman, and CEO. “The education I received at Yale changed the course of my life. It is now a pleasure to give back by creating something on campus that will be transformational for all members of the Yale community. Future generations will utilize the Schwarzman Center in innumerable new ways and, in so doing, keep the Yale experience at the cutting edge.”

In establishing the Schwarzman Center, Yale will undertake a complete renovation of the historic University Commons building, a massive and iconic Carrère and Hastings structure at the center of the campus, and three floors of the adjacent Memorial Hall.  Far more than a restoration, the entire building will be reimagined – with the help of a committee of students, faculty, and staff – to create versatile performance, exhibition, meeting, dining and gathering spaces, and a central hub of student life. The project will be overseen by Michael Kaiser, Chairman of the Board of The Kennedy Center for the Performing Arts, and is expected to open in 2020.

Please click here to read the New York Times article and here to read the full press release.