Private-equity investor Marc J. Leder has donated $1 million to the Institute of Contemporary Art at his alma mater, the University of Pennsylvania in Philadelphia. The money will endow the director of curatorial affairs position at the ICA, which is currently held by Robert Chaney.
“Our director of curatorial affairs, Robert Chaney, works to remake the museum each season, and the Leder Endowment guarantees that the most experienced and creative team will always lead ICA,” the ICA’s director, Amy Sadao, said in a statement.
Leder, who graduated from the Wharton School at UPenn in 1983 and who is co-CEO of Sun Capital Partners, will also be joining the museum’s board of overseers. In a statement, Leder said, “ICA’s legacy in fostering young artists and promoting a culture that includes masters like Warhol and Twombly is second to none. Furthermore, I am excited about taking an active role on ICA’s board.”