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Silver Lake's Hutchins Endows Brookings Center for Policy

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Dec. 4 (Bloomberg) -- Glenn Hutchins, co-founder of private-equity firm Silver Lake Management LLC, is giving $10 million to set up a center for the research of fiscal and monetary policy at the Brookings Institution.

The Hutchins Center on Fiscal and Monetary Policy will focus on the interplay between fiscal and monetary policy and connect researchers with the business community and policy makers, the Washington-based Brookings Institution said today in a statement. David Wessel, 59, the Wall Street Journal’s economics editor, will leave the newspaper to lead the center.

“The next decade of economic policy making will be dominated by these questions,” Hutchins, vice chairman of Brookings’ board of trustees, said in the statement.

Hutchins, 58, founded Silver Lake in 1999 with David Roux, Jim Davidson and Roger McNamee. In October, the New York- and Menlo Park, California-based firm closed its biggest deal ever, partnering with Michael Dell to buy computer maker Dell Inc. for $24.9 billion.

The grant, from the Hutchins Family Foundation, follows a $30 million donation last year to Harvard University, his alma mater.

Hutchins was a special adviser on economic and health-care policy in the Clinton administration. He is a director of the Federal Reserve Bank of New York.

To contact the reporter on this story: David Carey in New York at dcarey13@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net