Yale University received a $50 million commitment to help construct a new building for its School of Management from Edward P. Evans, a former publishing executive, Bloomberg News reports.
The gift from Evans, a graduate of the Yale College class of 1964, is the largest in the business school’s history, Yale said. Evans was the chairman and chief executive officer of publisher Macmillan Inc. from 1979 to 1989, according to the university.
“The School of Management’s new home will be as forward- looking as its pioneering curriculum,” Richard C. Levin, the university’s president, said in the statement. “With this gift, Ned Evans has expressed confidence in the school’s future and ensured that construction can proceed without putting undue pressure on our budget.”
Yale School of Management opened in 1974 and is the youngest of six business schools in the Ivy League, a group of eight private colleges in the northeast U.S. The new building, on a 4.25-acre site, will take Evans’s name.
Construction began this year and is scheduled for completion in 2013, with an estimated cost of $189 million, said Tabitha Wilde, a Yale spokeswoman.
In past gifts, Evans supported the renovation and expansion of the Yale University Press building and the renewal of residential colleges, according to the statement.
