Henry Kravis and David Rubenstein aren’t the only private equity firm founders that like to shower their favorite institutions of higher learning with charitable dollars.
Today, James J. Zenni Jr. announced that he has and his firm Z Capital Partners are pledging $100,000 to the University of North Carolina’s Kenan-Flagler Business School to support private equity education for MBA students and undergraduates.
Z Capital Partners focuses on operational turnarounds of distresssed midmarket companies and has backed companies that include Mrs. Fields Famous Brands, Neways Enterprises and Real Mex Restaurants.
Zenni joins a growing list of private equity firm founders to steer a sizeable charitable contribution to education. Henry Kravis, co-founder of Kohlberg Kravis Roberts & Co. has made multi-million dollar pledges to Claremont McKenna College, where he earned his undergraduate degree, as well as to Columbia Business School. Carlyle Group Co-Founder David Rubenstein, meanwhile, has donated to schools that include Duke University’s Sanford School of Public Policy and the University of Chicago Law School.
Zenni, however, has added his own twist by focusing specifically on private equity education. The three-year $100,000 grant to Kenan-Flagler will be used to support a variety of programs, such as funding a “career trek” for students to visit firms in New York, Chicago, Boston and Charlotte and supporting a student-run conference on alternative investments. The grant will also support a new private equity education database to catalog private equity activities of alumni, faculty and other supporters of the school.
Zenni, who founded Black Diamond Capital Management before launching Z Capital, is himself a graduate of Xavier University and also attended Xavier University Graduate School of Business and University of Vienna School of Economics and Business Administration, according to Z Capital’s web site.
According to a spokesman for the firm, Zenni’s desire to finance a private equity program for business school students segued nicely with Kenan-Flagler’s desire to build such a program.
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