Oklahoma State University, Stillwater, is the latest beneficiary of the largess of legendary oil man turned hedge-fund manager T. Boone Pickens.
Last month, Mr. Pickens announced a $165 million donation to his alma mater, earmarked for the construction of a state-of-the-art athletic facility.
The gift will be used to develop the west end zone of the university's football arena, the Boone Pickens Stadium, named in recognition of prior donations of more than $100 million. The complex will include indoor and outdoor multisport practice areas; soccer, track and tennis facilities; an equestrian center; and a baseball stadium.
"My passion for OSU has only intensified over the years as I recognize the link between my education and my success," said the 77-year old Mr. Pickens in OSU's press release. Mr. Pickens graduated from OSU in 1951 with a degree in geology.
Mr. Pickens' philanthropy last year totaled $230 million, including $190 million in gifts to OSU.
Mr. Pickens' hedge fund company, Dallas-based BP Capital Management LP, managed about $4 billion as of Dec. 31 in two hedge funds, the BP Capital Equity Fund and the BP Capital Commodities Fund, said Jay Rosser, a spokesman. Both funds specialize in energy investments.