LOS ANGELES—USC‘s Marshall School of Business is creating a new global real estate program, thanks to a substantial endowment from William J. McMorrow, the chairman and CEO of Kennedy Wilson and a USC alumnus. His namesake program will provide students with the experience to work and be successful in the interconnected global marketplace.
“The William J. McMorrow global real estate program will be a vital forum for thought leadership that attracts prominent faculty and trains the next generation of visionaries in the field,” says USC Marshall School dean James G. Ellis. “The gift is a natural fit for a university so rooted in Southern California, which has always been a hub of real estate innovation.”
Los Angeles is uniquely positioned to take advantage of the global real estate market due to the focus of foreign capital in Southern California. And, that is something McMorrow uniquely understands. Since buying Kennedy Wilson in 1988, he has built a worldwide portfolio with $17 billion in assets under management and has taken the company public. In fact, GlobeSt.com recently reported the firm plans to sell 8 million shares of common stock in an underwritten public offering.
This success made him a prime candidate to launch this program for USC. “We are profoundly grateful that someone with William McMorrow’s stature and expertise in real estate has chosen to put his name on this endeavor,” says Al Checcio, USC’s University Advancement SVP. “We are thrilled to call Bill a partner and a friend, and we know his involvement augurs a world-class program.”
McMorrow’s gift came through a multi-year fundraising campaign organized by the university to secure donations from individuals, corporations and foundations to further educational programs. The campaign’s goal is to raise $6 billion over several years. So far, it has reached $3 billion in donations.