Bowdoin to Get $30-Million From Alumnus’s Investments

Bowdoin College in Brunswick, Me., is counting on the money-management skills of one of its alumni to bring in $30-million by the end of the year.

Stanley F. Druckenmiller, a managing partner of Soros Fund Management in New York, had set up a fund for the college in 1994 with $1.5-million of his own money and has contributed $1.5-million more to date. He originally predicted that he could turn his investments into $14-million for the college.

Now he has more than doubled that estimate.

Mr. Druckenmiller said last month that he will invest an additional $500,000 into “Polar Bear Investments,” the fund created from his initial gift, in the hopes of meeting a $30-million goal by December 31. If he doesn’t meet that goal, he said, the difference will come out of his own pocket.

Mr. Druckenmiller has declined to say how much the fund is currently worth, only that he would be “disappointed” if it did not yield $30-million.

Of that amount, $9-million will go toward renovations of Bowdoin’s 103-year-old Searles Science Building, and the remainder to the college’s endowment.