Posted by: youngragingbull | April 21, 2013

Blackstone’s Chairman to give $100M for China scholarship

Blackstone Group LP Chairman Stephen Schwarzman has agreed to give $100 million for a program that will fund the studies of graduate students in China similar to the Rhodes Scholarships program.

An additional $200 million of donations is also being sought for the Schwarzman Scholars program, which will support 200 students annually for a one-year Master’s program at Beijing’s Tsinghua University, according to a statement.

Li Daokui, a former academic adviser to China’s central bank, will oversee the program that will enroll students hailing predominantly from the U.S., along with others from Europe, South Korea, Japan, India and other nations, it said.

A residential building designed specifically for the program will also be built, with the first group of students slated for 2016, according to the statement.

The advisory board for the Schwarzman program include former French President Nicolas Sarkozy, former U.K. Prime Minister Tony Blair and three former U.S. Secretaries of State, Henry Kissinger, Colin Powell and Condoleezza Rice.

Source: Bloomberg

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