Hedge fund CEO gifts $15M for Alzheimer’s institute

The chief executive officer of Park Avenue hedge fund Third Point, is set to donate $15 million to Mount Sinai Hospital and the Icahn School of Medicine in New York City for a new research institute devoted to studying Alzheimer’s disease.

The CEO, Daniel Loeb, will be dedicating the new research institute to his late father, Ronald M. Loeb, who suffered from the disease, according to this Wall Street Journal report.