New York University President John Sexton today announced to the NYU community a seven-year $2.5 billion fundraising campaign and a major, intensive faculty hiring initiative in the arts and sciences. The campaign, which is the largest in the University’s history and has already raised some $1.1 billion during its 3-year “quiet phase,” will raise $1 million per day over the next four years.

The funds raised in the campaign will be used for faculty building, increased financial aid for students, the development of new academic initiatives and programs, and enhancing physical facilities.

The University will also launch a major hiring initiative, the Partners Fund. Over the next five years, the Partners Fund will match $50 million in donations with $150 million in University resources to enable NYU to increase the size of its arts and science faculty by 20 percent, or 125 additional positions; with additional hiring expected through natural turnover, NYU expects to make 250 hires overall in the arts and sciences over the next five years.

The official kick-off of the fundraising campaign will take place on Tuesday evening at a gala dinner at Cipriani 42nd Street at which the renowned musician Billy Joel, a proud NYU parent, will perform.

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