Posted Aug 09, 2011 08:50 pm CDT
The University of California at Los Angeles School of Law has received a $10 million gift to establish an institute for business law and policy.
The money, the largest single gift in the school’s history and the capstone of the school’s five-year, $100 million fundraising initiative, came from education reform advocate and philanthropist Lowell Milken, a 1973 alumnus, the Los Angeles Times’ L.A. Now blog reports.
Milken is the chairman and co-founder of the Milken Family foundation, a private foundation focused on education. He also is the co-founder of Knowledge Universe, a Singapore-based company focused on early childhood education.
The money will be used to create the Lowell Milken Institute for Business Law and Policy, which UCLA officials said was the result of a three-year effort to establish business and law initiatives that focus on innovative research, problem-solving and hands-on skills training.
“In line with the goals of the Campaign for UCLA Law, Lowell’s generosity will enable us to initiate a range of curricular innovations, further critical research and provide financial support for students, who will become our nation’s future leaders in business law and policy,” law school dean Rachel Moran said in a statement.
The gift also propels the school past its fundraising goal of $100 million in five years, a spokeswoman said.
“At a time when our state’s great universities are under significant financial pressure and constraints, it is incumbent upon those of us who benefited greatly from our educational experiences within the UC system to help support the outstanding work of those universities,” Milken said.