High-Yield Bond Investor Breazzano Gives $25 Million to Cornellby
Gift will fund new center to expand school’s MBA program
Three schools will be part of the Cornell College of Business
David Breazzano, co-founder and chief investment officer at DDJ Capital Management, is giving $25 million to Cornell University for a new center that will expand the Ivy League school’s MBA program.
A six-story building under construction on the Ithaca, New York, campus will be named the Breazzano Family Center for Business Education pending board approval, the school said Tuesday in a statement. The new facility will be part of the Samuel Curtis Johnson Graduate School of Management.
The donation “recognizes the need for an additional facility to launch Johnson on its next phase of growth and is a whole-hearted endorsement of Johnson’s faculty,” Hunter R. Rawlings III, Cornell’s interim president, said in the statement.
The management school, along with with the School of Hotel Administration and the Charles H. Dyson School of Applied Economics and Management, will be under the Cornell College of Business, which is expected to launch for the 2016-2017 academic year, the school said. The Breazzano building is expected to open in the summer of 2017.
DDJ Capital, which started in 1996, is a Waltham, Massachusetts-based investment manager that specializes in high-yield bonds and loans and had $7.27 billion in assets as of March 31, according to the firm’s spokesman Jack O’Connor. Breazzano received his MBA from Cornell in 1980, according to the school.