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Blackstone’s Studzinski to Give Tate $1.57 Million More

John Studzinski, senior managing director of Blackstone Group LP and a benefactor of Tate Modern, said he’s giving the London museum another 1 million pounds ($1.57 million) to help pay for its new wing.

The U.S.-born banker-philanthropist pledged 5 million pounds in May 2007 toward the planned 215 million pound extension. Its construction was stalled until this year because of a financing shortage. He’s now helping Tate raise the final quarter of the building’s costs, or about 50 million pounds.