University of St.Gallen uses donation to build future fund Oslo; one of the largest donations in its history

University of St.Gallen uses donation to build future fund Oslo; one of the largest donations in its history

University of St.Gallen uses donation to build future fund

University of St.Gallen uses donation to build future fund

Oslo - The University of St.Gallen (HSG) is establishing a future fund. The foundation is a donation of 23.75 million Swiss francs made by HSG alumnus Christen Sveaas, the owner and executive chairman of the board of directors of AS Holding in Oslo.

(CONNECT) With a single donation of 23.75 million Swiss francs, the University of St.Gallen (HSG) can lay the foundation for a future fund. Twenty million Swiss francs of the donation which was given by former HSG graduate Christen Sveaas, owner and executive chairman of the board of directors ofAS Holding, will go toward an endowment fund, reads astatementfrom the university. The remaining 3.75 million Swiss francs will be invested in implementing a new fund for excellence scholarships, theHSG Best Talents Programme. The amount received by the HSG Foundation is one of the largest single donations in the university’s 128-year history.

The sponsor is AS Holding, the parent company of Kistefos AS, a private investment firm owned by HSG alumnus Christen Sveaas. Sveaas completed his studies at the HSG with a licentiate degree in the 1980s. He has been a member of the HSG Advisory Board since 2018 and a member of the Honorary Senate since 2025. “My degree course in St.Gallen opened doors for me,” Christen Sveaas is quoted as saying. “By supporting the HSG Best Talents Programme, I am giving young talents the chance to develop into the responsible leaders we will need in the future.”

The proceeds from the endowment are intended to support initiatives that go beyond basic state funding and the university’s mandate, helping secure the university’s excellence. President Manuel Ammann announced the donation during this year’s Dies Academicus at the University of St.Gallen. ce

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