Perelman gift to fund new residential college at Princeton

By Eric Strauss
Princeton | Dec 5, 2018 at 11:06 am

Princeton University will gain a new residential college, thanks to a lead gift from the Perelman Family Foundation, the university said Wednesday.

The gift helping to establish the Perelman College was announced by Ronald O. Perelman, chairman and CEO of MacAndrews & Forbes Inc., and his daughter, Debra Perelman, newly promoted CEO of Revlon.

Princeton said the construction of the college, the university’s seventh residential college, will aid in its crucial strategic priority of increasing the undergraduate population by approximately 10 percent.

“The establishment of Perelman College will enable Princeton to admit more talented students from every sector of society, increasing our capacity to fulfill our mission and make a positive difference in the world,” President Christopher L. Eisgruber said in a prepared statement. “I am deeply grateful to the Perelmans for their extraordinary vision and generosity.”

The exact amount of the gift was not disclosed.

Debra Perelman, who was Revlon’s chief operating officer before her promotion to the top C-suite post, is a member of the Princeton Class of 1996.

“We are thrilled to be able to make this gift and to be so closely aligned with the mission of the university,” she said in a statement. “The creation of Perelman College will help fulfill Princeton’s mission to create a more culturally and economically diverse community.”

Ronald Perelman, whose father, Raymond G. Perelman, is a noted philanthropist himself, had previously given a gift to create Princeton’s Ronald O. Perelman Institute for Judaic Studies.

“People of all backgrounds and communities deserve access to the extraordinary education and training offered by Princeton, and all the wonderful opportunities afforded its graduates,” he said in a statement. “I want to thank President Eisgruber for his vision and leadership, and look forward to seeing Perelman College help fulfill the dreams of the next generation of Princeton students.”

The architecture firm Deborah Berke Partners has been chosen for the project, the university said.

Eric Strauss | estrauss@roi-nj.com | acerimrat