William R. Grant ’49, venture capitalist, investment banker, philanthropist and longtime Union benefactor whose name graces the Office of Admissions, passed away on Sunday, April 15. He was 82.
Grant earned a B.S. in chemistry at Union and a master's degree in economics from New York University in 1960. He received an honorary LL.D. from Union in 1983.
He was named an Emeritus Trustee in 1992 following 18 years of service on the College’s Board of Trustees.
In 1999, Union presented him with the coveted Alumni Gold Medal for his distinguished service to the College.
“I know I speak for many when I express my deep appreciation for Bill Grant’s support, dedication and generosity to this College through the years,” said President Stephen C. Ainlay. “It is people like Bill who embody Union’s spirit and its values.”
Said Dominick F. Famulare ’92, director of Alumni Relations: “We have lost a loyal son of Union who will surely be missed by all who knew him.”
Grant had a half century of experience in the investment banking and risk-capital fields. He was the vice chairman and co-founder, in 1989, of Galen Associates in New York, a $1 billion venture capital firm focusing solely on the health-care industry. Galen has financed and assisted in the development of some 45 health-care companies.
“The firm has helped me to create interesting medical devices, services and drugs for society,” Grant said in a 2003 interview for Accolades, the magazine that chronicles the $200 million “You are Union” campaign. “I like building effective management teams. I’ve always had a diverse intellectual curiosity, an eclectic curiosity.”
Grant spent 25 years with Smith Barney, where he was elected president and then vice chairman. He is a former director of SmithKline Beecham, the pharmaceutical manufacturer (now GlaxoSmithKline). He also served as chairman of New York Life International and president and chairman of MacKay-Shields Financial Corp., and he served on the boards of Advanced Medical Optics Inc., Massey Energy Co., Quest Diagnostics, Vasogen Inc. and other private companies.
He was a Trustee Emeritus of the Mary Flagler Cary Charitable Trust and a member of the General Electric Equity Advisory Board.
At Union, Grant played basketball and lacrosse. Among his most memorable moments, he told Accolades, were making the winning basket against Trinity in his last basketball game and going on lacrosse trips. “Coach Fred Wyatt always thought we were better than we were,” he said. “We lost one game 23-0. Unfortunately, I was the goaltender.”
Grant funded the rehabilitation of the Alpha Delta Phi fraternity house, now Grant Hall for Admissions.
His philanthropy included many other educational causes, as well. He donated substantial free time and funds for support of inner city schools and created a grant for poetry.
“The best way to communicate with children is poetry,” he once said. “They come out of their shadows, but you must participate.”
In his spare time, Grant played tennis, squash and golf. He liked to read histories.
Grant’s death comes after a year’s illness from metastatic melanoma. He is survived by his wife, Adele (Reilly); daughters Deborah Grant and Elise Grant Seeley Lauinger; son Byron A. Grant; and two grandchildren. He is predeceased by his wife of 43 years, Dorothy Annetta Grant; son Gregory Scott Grant; and daughter Melissa Grant Davis.