Financier Roberts gives $50M to Claremont college

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(Photo Credit: claremontmckenna.edu)

(Photo Credit: claremontmckenna.edu)

CLAREMONT, Calif. (AP) — Billionaire financier George R. Roberts is giving his Alma Mater Claremont McKenna College a gift of $50 million, no strings attached.

On Wednesday the school, part of the group of seven Claremont Colleges east of Los Angeles, announced the gift that comes with no restrictions on how it’s spent.

The school plans to use the money to build a new athletic facility more than twice the size of its current one, and will call it Roberts Pavilion.

Roberts is one of Claremont McKenna’s trustees and graduated from the college in 1966.

He made his fortune as a co-founder of Kohlberg Kravis Roberts — or KKR & Co. LP — a private equity firm.

Another KKR founder, Henry R. Kravis, gave $100 million to Columbia University’s business school in 2010.

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