$10 Million Alumni Gift Will Establish New Business, Law and Public Policy Center at Columbia
A $10 million grant from the foundation of an alumnus of both Columbia Business School and Columbia Law School will establish a new interdisciplinary academic center jointly administered by both schools, Columbia University announced earlier this week.
The Richard Paul Richman Center for Business, Law and Public Policy will seek to foster collaboration between the schools and generate research to both help shape public policy and provide real-world business and legal applications. The center’s namesake, a 1972 graduate of the law school and 1973 graduate of the business school, is chairman of the Richman Group, one of the largest owners and developers of rental housing in the country.
“The complex challenges in public policy need to be informed by the pragmatic perspectives of both business and law,” Richman said in a statement explaining his motivations for establishing the center. “Columbia’s intellectual capital in these two disciplines is unparalleled and represents a powerful tool to address today’s problems as well as lay the foundation for a well-planned future,” he continued.
The gift will also fund a new professorship at each school, the Richard Paul Richman Professorship of Law and the Richard Paul Richman Professorship of Business. The professors appointed to these chairs will undertake innovative curricular and research initiatives in business, law and public policy.
Richman’s generous gift adds to a stretch of good fortune at CBS. In October 2010, alumnus Henry Kravis gave an unprecedented $100 million gift, which will help fund construction of a new home for the business school on Columbia’s Manhattanville campus.
For more on the new Richard Paul Richman Center for Business, Law and Public Policy, click here.