Northwestern Kellogg School gets $15 million from Larry Gies – Education News

on Jan12

12 January 2018 | 4:54 pm

The Chicago private-equity executive who gave $150 million to the University of Illinois at Urbana-Champaign last year didn’t forget his other alma mater.

Northwestern University’s Kellogg School of Management announced today that Madison Industries founder and CEO Larry Gies and his wife, Beth, contributed $15 million to the graduate business school during fiscal 2017, which ended in August, fueling the graduate school’s most successful fundraising year ever.

Kellogg said it raised $75 million, part of its $350 million goal. Northwestern’s campuswide fundraising target is $3.75 billion.

Outgoing Kellogg Dean Sally Blount, who announced her exit last year, has led the Kellogg campaign, which included the opening last year of a striking new 415,000-square-foot global hub on the school’s Evanston campus. The hub’s central atrium has been named after the Gies family, the school said in a statement.

Gies, 51, received degrees from both schools, earning a bachelor’s in accounting downstate from the University of Illinois, and an MBA from Kellogg in 1992. He grew up in the Illinois farming town of Mendota and founded Madison Industries in 1994. Today, the firm owns a portfolio of companies in industries ranging from filtration to plastics, with combined annual revenue of $5 billion. He didn’t immediately respond to a request for comment.

Kellogg also noted that longtime supporters Gordon Segal and his wife, Carole Browe Segal, co-founders of Crate & Barrel, recently made a $5.2 million contribution to the grad school.

Kellogg didn’t respond to a question about when the Gies gift was made. The Gies donation to UIUC’s business school last October was the biggest gift ever for the University of Illinois. The newly renamed Gies College of Business plans to use the money for scholarships, student programs, and faculty recruitment and retention, the school said.



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