Northwestern University receives $121 million gift for biomedical research, Kellogg School of Management
Northwestern University announced on Tuesday that it received a $121 million donation from Kimberly K. Querrey and the Louis Simpson Trust, which will be divided between the Feinberg School of Medicine, the Querrey Simpson Institute for Bioelectronics and the Kellogg School of Management.
With this latest donation, Querrey and her late husband, Louis A. Simpson have given Northwestern more than $379 million, supporting multiple fields and programs at the university.
The majority of the donation ($100 million) will go to four Feinberg School of Medicine initiatives.
- $64 million will be used to build a new research tower that will expand theLouis A. Simpson and Kimberly K. Querrey Center for Biomedical Research and, according to the university, make it the largest academic biomedical research center in the world.
- $25 million will help create and staff the Simpson Querrey Lung Institute for Translational Sciences, which will focus on research findings in pulmonary medicine.
- Another $10 million will be used to create and staff the Simpson Querrey Center for Neurovascular Sciences, dedicated to research and therapies for neurovascular diseases.
- $1 million will support Kimberly Prize in Biochemistry and Molecular Genetics, created this year by Querrey to honor Simpson. Nobel laureate Jennifer Doudna has won the inaugural $250,000 Kimberly Prize, recognized for her role in developing CRISPR-Cas9, a genome-editing technique that allows scientists to rewrite DNA in all kinds of cells with high levels of precision.
In addition, $11 million from the Querrey/Simpson donation will go to Querrey Simpson Institute for Bioelectronicswhich is an interdisciplinary effort to develop biocompatible forms of electronics that can be applied to various medical treatments.
The third part of the gift – $10 million – will be used to support executive education at Northwestern’s Kellogg School of Management, where Simpson had served as a senior fellow, assistant professor of finance and advisory board member of the Asset Management Practicum from school.
Michael H. Schill, president of Northwestern University, called Querrey and Simpson “two of Northwestern’s greatest champions,” adding that “Northwestern’s rapid progress over the past decade simply would not have been possible without them. This new gift continues their legacy of visionary support, and the impact will be far-reaching.
“Our philanthropic investments are about helping people,” Querrey said. “Lou and I have often discussed the importance of improving quality of life, especially for people facing medical challenges. Northwestern doctors, scientists and engineers do groundbreaking and innovative work, fulfilling our vision to positively impact people’s lives.
Together, Kimberly Querrey and Lou Simpson, who died January 8, 2022, made contributions to Northwestern that supported numerous biomedical research initiatives, the McCormick School of Engineering, Kellogg School of Management, Northwestern Athletics and several other programs. , scholarships, endowed faculty positions and capital projects at the University.
Early in his career, Simpson was a partner at Stein, Roe and Farnham, a Chicago investment firm. Later, he served as President and CEO of Western Asset Management. For 17 years, Simpson was president and CEO of Geico Corporation, the auto insurer owned by Berkshire Hathaway Inc., run by Warren Buffett. Recognized nationally as a highly savvy investor, Simpson served as Chairman of Gulf Shore Private Capital LLC, established in 2019. Previously, he served as Chairman of money management firm SQ Advisors LLC from 2011 to 2019.
Simpson has also served as a director of several publicly traded companies, including AT&T, Chesapeake Energy, COHR Inc., Comcast, Geico, HNC Software, Magma Power, MediaOne, Potomac Electric Power, National Bank of Washington, ResMed, Science Applications International Corporation, Salomon Inc., Thompson BPE, US West and Western Assets Funds.
He served as vice president of the Woodrow Wilson National Fellowship Foundation and also taught at Princeton University as a professor of economics from 1961 to 1962.
Kimberly Querrey is President and CEO of Gulf Shore Private Capital, a family-owned investment firm. She joined Northwestern’s board of directors in 2015 and chairs the innovation and entrepreneurship subcommittee. Querrey is also a member of the Council on Foreign Relations and serves on the board and executive committee of the Big Shoulders Fund.