Behind the $30 million gift that created the Rees-Chancellor’s Scholars Program

Michael Rees remembers the blizzard of 1993 as a life-changing moment — not because of the more than two feet of snow it dropped on Pittsburgh, but because it was the day he made his first visit as a high school senior to the University of Pittsburgh.

He recalls trudging across campus, riding the elevator to the top floors of the Cathedral of Learning and walking into the office of Honors College Dean G. Alec Stewart, who was — as usual — gathered with a group of students.

“He was talking with his hands and waving his arms, and he was so thoughtful and creative. I was immediately excited about what it would be like as a member of the Honors College,” says Rees. “I saw something in him that I wanted to aspire toward. I wanted to have what he called ‘life above the neck.’”

Some 30 years later, Rees (A&S ’97, ENGR ’97) and his family have made a $30 million gift to support what is now the David C. Frederick Honors College (FHC) and to help shape new generations of aspiring Pitt students through the Rees-Chancellor’s Scholars Program.

“This gift will provide never-before-seen possibilities for our most accomplished and ambitious students,” says FHC Dean Nicola Foote. “From day one, they will be connected with research and experiential learning opportunities in a tight-knit and supportive community.”

Rees grew up just south of the city at a time when Pittsburghers were leaving the region in droves. He imagined he would do the same to pursue his education.

“But Pitt had the perfect combination of resources for me,” says Rees, who majored in mechanical engineering and, at the cajoling of Stewart, added a second major in political science. “The Honors College brought together all of the resources of a large university in a small university environment where I was able to interact with tremendous professors and faculty.”

Stewart also encouraged Rees to apply for a Goldwater Scholarship. He received the prestigious award, which supports students engaged in natural sciences, mathematics or engineering research.

After graduation, Rees pursued a career in business, later running his own investment firm. He currently is co-president of Blue Owl Capital Inc. and a member of the firm’s board of directors. He credits Pitt with laying the foundation on which he has built his career.

“I look back at all I have done in my life and where I’ve been able to go, and it all started at Pitt,” Rees says. “And the financial support I received from the University as an undergraduate relieved a huge burden from my parents.”

In November 2025, Rees and his wife, Allison, thanked Pitt in a big way. Their gift creates an endowed fund to expand the number of Frederick Honors College students receiving full room, board and tuition scholarships through the existing Chancellor’s Scholarship program, of which Rees was a beneficiary. The 64 Rees-Chancellor’s scholars will each receive an annual funded enrichment opportunity such as an internship or study abroad.

“Michael Rees exemplifies the possibilities that come from dreaming big — as a student, as a professional and as a philanthropist,” Chancellor Joan Gabel says. “His transformational gift opens the doors wide to new experiences and new synergies among our top students.”

In addition to growing the cohort of students in the program and enhancing the student experience, the gift also will help the Honors College to create a team dedicated to supporting and recruiting the Rees-Chancellor’s Scholars. Rees believes that it’s important to recruit the most qualified high school students early in their decision process, much like athletic coaches recruit top players.

Another highlight of the program will include a student experience at University College, Oxford, building on an existing partnership formed through a gift made by Pitt trustee and Rhodes Scholar David C. Frederick (A&S ’83) in 2022.

For Rees, his gift represents an opportunity to pay forward the support he received at Pitt, with his focus squarely on students.

“I’ve lived in the New York area for longer than I lived in Pittsburgh, but I still hold on to my roots — those Pittsburgh values instilled by my parents,” Rees says. “It means a lot to me to be able to give back to my alma mater and support new generations of students who will have the skills and motivation to change the world.”