Kwanza Jones and José E. Feliciano have made a major gift to Princeton University, a $20 million contribution that is the largest gift to date by Black and Latino donors, and one of a few extraordinary alumni commitments to the University’s strategic goal of undergraduate expansion.
“Kwanza and José bring strong values and deep dedication to their philanthropy as well as their work as volunteer leaders on behalf of the University, and I am deeply grateful for their extraordinary commitment to Princeton,” at the announcement said President Christopher L. Eisgruber ’83.
The dedication took place on May 5, with these new undergraduate dormitories, the capacity is increased by approximately 10%. The addition of approximately 500 undergraduate students will allow the University to admit more students from racialized communities.
Kwanza and I are committed not only to continuing Princeton’s tradition of excellence in academia but also in making sure that we can make that available to more deserving students who represent a cross section of our society,” Feliciano said. “We both have the privilege of being Princeton graduates, thanks to the many sacrifices of our parents who recognized the value of education. We recognize that our Princeton education and network have had a fundamental impact on our career path and success. As such, we hope that our gift can be used to continue providing access to education and opportunity to many others, and we hope to inspire other alumni, including alumni of color, to give and be even more active stakeholders of the Princeton community.”
“Through KJSI, we are committed to powering possibilities and boosting humanity and its future,” Feliciano said. “As Cesar Chavez said, ‘We cannot seek achievement for ourselves and forget about progress and prosperity for our community … Our ambitions must be broad enough to include the aspirations and needs of others, for their sake and for our own.’ This is particularly important now when minority communities are threatened by the combination of a health crisis as well as persistent economic and social inequities. Kwanza and I are determined to do our part.
“We are especially encouraged by the recent announcement by President Eisgruber and the University to continue making Princeton a more inclusive destination to all deserving students, including the commitment to collect data and report on the University’s progress in an annual Diversity, Equity, and Inclusion report,” he added. “We look forward to even more progress in the years ahead.”
The Kwanza Jones & José E. Feliciano Initiative (Jones Feliciano) is a high-impact philanthropic grantmaking and investment organization and family office founded by Kwanza Jones and José E. Feliciano. They have one bold goal “to Power Possibilities for Humanity and its Future”, by investing in both nonprofits and for-profit ventures that are compatible with their goal and make a lasting impact across four key priorities: Education, Entrepreneurship, Equity and Empowerment.
*Jose E. Feliciano cofounded Clearlake Capital in 2006 with Behdad Eghbali; both men are managing partners. The private equity firm is based in Santa Monica, California.
Clearlake Capital says it oversees more than $70 billion in assets under management; it has scored some of the industry’s best returns.
In May 2022, Clearlake Capital joined billionaire investor Todd Boehly to buy English soccer team Chelsea FC; the firm is known for buying software, industrial and consumer products companies.
Feliciano worked in investment banking at Goldman Sachs and was the chief financial officer of govWorks before it declared bankruptcy in 2000.
Feliciano, who was born in Puerto Rico, is on the board of trustees of Stanford University and the Smithsonian National Museum of the American Latino.