Two University of Chicago Booth School of Business alumni have donated $60 million to name the master of finance program, which welcomed its first cohort of students in August, the university announced Tuesday.
The gift comes from Clifford Asness and John Liew, co-founders of the global investment management firm AQR, who both earned M.B.A.s and Ph.D.s from the University of Chicago.
“Thanks to Cliff and John’s extraordinary generosity and leadership, the Asness and Liew Master in Finance Program will ensure that talented college graduates quickly reach the frontiers of modern finance,” said Madhav Rajan, dean of the Booth School. “By providing broad support for faculty, students and other areas of the program, this investment will enable the school to successfully carry out its mission to influence and educate this promising new group of leaders.”
Announced in 2023, the 15-month program is one of the school’s first new degree offerings in 88 years.
“When I think about the difficulties of professional and intellectual success I think ‘There but for the grace of Chicago go I!’” said Asness in a news release. “Everyone needs some luck in life, and my great luck was being there when I was. This chance to give something back—helping make Chicago for others what it was for me—is beyond gratifying.”
Liew added, “It’s hard to overstate the impact that our time at Booth had on us professionally. We literally built our careers and our business around what we learned. This really is the least we can do.”
