The Rhodes Trust has secured a £7.5m donation from a New York-based foundation for New Zealand students just two years after beginning fundraising for the scholarship scheme.
The Robertson Foundation has pledged the money to fund three existing Rhodes Scholarship places for students from New Zealand, with the scholarships to bear the name of both the foundation and the Rhodes Trust. The £7.5m donation is the largest yet to be received for the Rhodes scholars.
Rhodes Scholarships enable students from 14 countries to attend and share experiences at Oxford University, which itself has been so successful in fundraising it has extended its fundraising target to £3bn.
While the Robertson donation will fund three existing places, it does not replace any decline in funding but is in addition to the Rhodes endowment, a Rhodes House spokeswoman told civilsociety.co.uk.
Acting warden of Rhodes House Dr Andrew Graham declared the gift has prompted “a time of celebration”. The partnership, he said, “demonstrates a true partnership with a shared approach and ethos”.
“The gift also generates real momentum for the Trust’s fundraising efforts, demonstrating a philanthropic model which it is hoped others will follow.”
The Robertson Foundation is a New York-based entity headed by US-born Julian H Robertson, founder of the Tiger Management investment firm, who has a long and deep commitment to New Zealand. In the past the foundation has made significant investments in education, environment and medical research, including a $27m donation to the New York Stem Cell Foundation.
On his £7.5m gift, Roberston (pictured right) said: “It is important to me that exceptionally talented young New Zealanders will continue to benefit from the transformative experience of a Rhodes Scholarship to Oxford and the Foundation is delighted to help secure that opportunity for them.”
Picture: Donald Gogel, Rhodes trustee and chair of the development committee for the Rhodes Scholarships and Julian Robertson, founder of the Robertson Foundation.
Credit Mackler Studios
