Penn Law School Gets $125 Million Gift From Carey Foundation (1)

The University of Pennsylvania law school is receiving a $125 million donation, the largest in its history, from the W.P. Carey Foundation.

In recognition of the donation, the school will be renamed Carey Law School, according to a statement Friday. The foundation manages wealth amassed by William Polk Carey, who founded what is now the real estate investment trust W.P. Carey Inc. Several members of the family attended the university.

Carey died in 2012.

The gift will help the school increase financial aid, including for students from historically underrepresented groups, and expand pro-bono programs and recruiting, according to the ...