Oaktree Founder Hands Duke $50M Donation

Law360, New York (December 5, 2011, 3:37 PM EST) -- Duke University has received $50 million from the president and founder of private equity firm Oaktree Capital Management LP, Bruce Karsh, and his wife Martha to fund scholarships for students, the North Carolina school announced Monday.

The donation — the largest ever given to the university by individuals for financial aid — will provide a permanent endowment to fund undergraduate need-based scholarships, with $30 million earmarked for U.S. students and $20 million for international students, Duke said.

The gift brings the amount that Karsh, who co-founded...
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