Hedge fund manager Seth A. Klarman and his wife, Beth Schultz Klarman, recently donated an additional $10 million to Atlanta-based Spelman College bringing their total support for the historically Black women's private liberal arts institution to $16 million.
The Klarmans have supported Spelman since 2015.
Their most recent gift will provide scholarships that will help students "overcome the financial barriers that may prevent them from graduating," the college said in a news release.
Mr. Klarman is CEO and portfolio manager at Baupost Group LLC, Boston.
Spelman's president, Mary Schmidt Campbell, said in the news release "what's striking" about the Klarmans' generosity is that "they have taken the time and care to know the college well" by engaging with students and faculty to better understand the college's goals.
"Spelman is an extraordinary educational institution. We hope our support ensures that exceptional young women have the opportunity to attend and graduate from Spelman and go on to have rewarding and fulfilling careers," Mr. and Ms. Klarman said in the release, adding that many Spelman graduates are "activists and participants in the work for social justice (and) they are strong voices for positive change in America."
Baupost Group managed $29.1 billion in hedge funds as of June 30.— christine williamson