David J. Breazzano, co-founder and principal of an investment management firm, has made a $2 million gift to his alma mater, College officials announced today.
In honor of the unrestricted gift, the College will rename Orange House, one of seven in the Minerva system, the Breazzano House. The new house will officially be dedicated during ReUnion weekend May 31-June 3.
Breazzano, who grew up in Edinburg, N.Y., is a 1978 graduate of the College. He was president and treasurer of Phi Sigma Kappa and also involved in intramural sports, radio station WRUC and the Interfraternity Council.
He earned a B.A. in political science and economics, and an MBA in finance and accounting from Cornell University. He managed the Fidelity Capital & Income Fund, one of the nation's largest high yield funds, and was chief investment officer of the T. Rowe Price Recovery Fund, a $107 million limited partnership investing in distressed securities. In 1996, Breazzano and two partners founded DDJ Capital Management. The Waltham, Mass. firm, which specializes in high yield and distressed oriented hedge funds and private partnerships, manages more than $3 billion on behalf of over 80 institutional clients.
“As one goes through life, it's clear you are defined by where you went to undergraduate school,” said Breazzano. “Everyone owes a substantial debt to their alma mater. My four years at Union were a critical part of my life, and I felt I needed to do something to repay that debt.”
Breazzano, a member of the College's Board of Trustees, has been a loyal benefactor of the College, including support of presidential scholarships and the expansion of Schaffer Library.
“David is a longtime College friend, and we are extremely grateful for his generous support and leadership,” said President Stephen C. Ainlay. “He has given freely to his alma mater through the years, and we are proud to consider him a part of our family.”
Breazzano has three sons, including Jeremy, a senior at Union who is assigned to Orange House. All students at Union are randomly assigned to a Minerva House, seven unique “living and learning communities” where they study, interact with faculty and simply hang out together.
“He thinks it is kind of cool,” Breazzano said of what will be Jeremy's last few weeks on campus as a member of Breazzano House.
Breazzano's gift comes during the College's $200 million “You are Union” campaign, which so far has raised nearly $120 million. A key initiative of the campaign is reinvigorating residential life, including support of the Minerva system, which is named after the Roman goddess of wisdom stamped on Union's seal.
Other Minerva houses named in honor of a gift include Beuth House (Philip Beuth '54), Golub House (William Golub '26, from son Neil), Wold House (John '38 and Jane Wold) and Sorum House (Christina Sorum, dean of faculty and vice president of academic affairs who died in 2005).