$15M donation to expand Iona School of Business

Iona College grad and Aston Capital CEO Robert V. LaPenta has given back to his alma mater in a big way ”“ a $15 million donation, the largest amount given in the school”™s 75-year history.

The money will be used to improve Hagan Hall, which houses Iona’s School of Business. The project includes additions that would nearly triple the size of the space, and will include new classrooms, meeting space, faculty offices, a lecture hall, career center and an expanded trading floor classroom.

LaPenta previously donated approximately $10 million toward the construction of Iona’s Robert V. LaPenta Student Union building, the Ryan Library and the trading floor of its business school.

Robert V. LaPenta addresses Iona College officials Nov. 20 after making a $15 million donation toward the School of Business.
Iona photo by Monika Graff

LaPenta, who graduated from Iona in 1967, founded Aston Capital LLC, a Stamford-based private investment company with specialties in military communication companies and businesses with green technology. He also serves as chairman and CEO of Revolution Lighting Technologies Inc. of Stamford, an LED technology company, and The Radiant Group, a military intelligence company.

“I am proud to support Iona”™s mission of creating graduates that are smart, ethical, creative problem solvers,” LaPenta said. “My time at Iona prepared me well to be successful in business, and positively impact businesses and the livelihoods of others. I believe this gift will enhance Iona”™s strong business school performance and reputation well into the 21st century.”

Iona College President Joseph E. Nyre said: “We are enormously grateful for this transformative gift. It will enable us to construct a facility that advances our vision, sharpens our distinctiveness, increases affordability and strengthens infrastructure.”

The donation was made to Iona Forever, a $150 million fundraising campaign launched earlier this year.

The school launched the public phase of the Iona Forever Campaign in September as part of its five-year comprehensive strategic plan developed in 2012. Funds raised will go toward student scholarships, faculty and academic program advancements, and improvements to classrooms and living areas. Officials said more than $63.7 million has been raised by Iona’s Board of Trustees, Campaign Cabinet and other supporters.