University of Chicago's Graduate School of Business plans to bolster its corporate governance program with a $1 million grant pledged by MV Advisors LLC, a shareholder activist hedge fund in Solana Beach, Calif.
The 30 members of the GSB faculty will decide on what research will be undertaken with this "very generous gift," said Allan J. Friedman, GSB director-communications. He added that MV Advisors won't be involved in the decision making or have priority access to the resulting research.
MV plans to contribute the money over five years, beginning with $100,000 by Dec. 31, said John Mutch, MV founder and managing partner and a GSB graduate.
"My goal is to help position (the school) as a thought-leader in corporate governance," Mr. Mutch said.
MV, founded earlier this year, plans to launch a fund in January that will use a shareholder activist approach and seek to raise more than $100 million from pension funds and other institutional investors, said Mr. Mutch. MV might be able to use the university's research findings in its investment strategy, which addresses governance, operational and strategic issues at underperforming small and midsized publicly traded technology companies.