Every college should be so lucky as to have educated an oilman-turned-hedge fund manager.
Oklahoma State University has about $400 million worth of reasons to be thankful that T. Boone Pickens graduated from its geology program in 1951, equipped to make his fortune first in oil and gas exploration and then from hedge funds through BP Capital Management LP, Dallas. BP Capital manages more than $4 billion in two energy-related hedge funds.
Mr. Pickens clearly reveres the hallowed halls of the Stillwater campus. In celebration of his 80th birthday in late May, Mr. Pickens presented OSU with another $100 million earmarked to endow major faculty chairs and professorships, according to a university news release. The gift is eligible for a dollar-for-dollar match for state funds for endowed chairs. Previously, Mr. Pickens had donated about $300 million in total to OSU the most notable contribution in January 2006 was used for state-of-the-art enhancements to OSU's athletic facilities (Pensions & Investments, Feb. 6, 2006).
My goal has always been to make OSU more competitive in all areas. I believe my donations to athletics and now this gift to academics will do just that, Mr. Pickens said in the statement.
And as if his largess was not quite enough, in late June, Mr. Pickens presented the American Association of Petroleum Geologists Foundation, Tulsa, Okla., with $9.4 million to create a consortium between the association and OSU. The gift establishes the Boone Pickens Digital Geology Fund, which will support the development of digital geographical information systems through the OSU Geology and Geography Department that will be available to professionals and the public via AAPG's website. Christine Williamson