MBA IVY League School – University of Chicago will change its name to the University of Chicago Booth School of Business. David Booth donated $300 million, the largest ever donation to the University of Chicago’s business school. David Booth is 1971 b-school alumni and is chief executive of the Dimensional Fund Advisors mutual fund.
Booth is a value investor who made money invested in group of individual stocks that represent overall market. As all funds in this troubled economic times Dimensional has mixed returns as noted in WSJ article. The strategy for Dimensional funds are ideas based Chicago Alumni – Fama and French finance models.
How University of Chicago is using these funds ?
According to their press release –
The school plans to use the money for several new initiatives, including aggressively attracting and retaining star faculty. Other uses being considered include developing new faculty groups in academic areas not normally associated with business schools, expanding existing research centers, and launching ambitious programs to better leverage the school’s intellectual capital.
The gift may also be used to expand the school’s international presence beyond its existing campuses in London and Singapore.