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University of Minnesota alumnus Herbert Hanson Jr.

U alumnus Herbert Hanson Jr. and his wife, Barbara, gave the Carlson School of Management $10 million to support the expansion of the school's undergraduate program.

$10 million for new Carlson School center

From eNews, April 1, 2004

If not for University of Minnesota business professor Arthur Upgren, alumnus Hanson says his professional life might have taken a different path. The 1949 economics graduate says that without Upgren's support he might not have founded the San Francisco-based Hanson Investment Management Co., a money management firm with more than $3 billion in assets when Hanson retired in 1993. Nor would he have had $10 million to give to the U's Carlson School of Management last Friday (March 26) to support the growth of the school's undergraduate program. "[The late] Professor Upgren showed such interest in me, not just as a student but as a person," says Hanson. "I'm not sure I would have chosen economics and finance if it hadn't been for his interest in me." In 1999, Hanson honored his favorite professor with a $1.25 million gift to establish the Arthur R. Upgren Chair in Investment Management at the Carlson School. The overall education Hanson received at the University is another reason for his stellar financial career. "My education was the key to my success, and I want to do what I can to help today's students get a good start in their careers," says Hanson, who returns to the Twin Cities campus twice a year to speak with students. A member of the Carlson School's Board of Overseers, Hanson helped launch the Carlson Funds Enterprise, an MBA student-run business that manages more than $15 million, and serves on its advisory board. The Carlson School will use Hanson's gift to build a new facility to accommodate 50 percent more students. Currently, the school serves only 15 percent of applicants because of space limitations, and Minnesota residents make up 80 percent of those turned away. The Undergraduate Center will include classrooms, computer labs, and offices. Carlson officials say the facility is likely to open in 2008. The U is seeking $1.7 million in planning funds from the State of Minnesota this year to support this project. To learn more about plans for the new center or Carlson School programs, see For information about making a gift to the University or any one of its schools, visit the University of Minnesota Foundation.

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