A transformational US$20m gift and a lasting legacy at the heart of LBS

London Business School (LBS) today announces a transformational US$20m gift from alumni Anjuli Rao MiFFT1999 and Raj Rao MiFFT1998, marking one of the most significant philanthropic contributions in the School’s history.

As one of the largest gifts ever received by LBS, the Raos’ contribution represents not only a landmark investment in the School’s future, but also a powerful expression of belief in its mission and global impact.

The Raos’ gift will establish LBS’s first endowed research fund, an endowed faculty chair and an endowed scholarship fund for students in the top-ranked MBA and MiF programmes. In recognition of their extraordinary generosity, LBS will rename the iconic Plowden Building as the Anjuli and Raj Rao Building. Raj and Anjuli will also join the School’s Forever Forward Campaign Leadership Board as Vice Chairs.

A shared vision, realised though LBS

Anjuli and Raj’s journey with LBS started long before they arrived in London. While they had successful careers within India’s financial sector, they longed to be part of an international and diverse community where they could learn, contribute and thrive. LBS represented exactly that opportunity, and they shared a common ambition to study at LBS. Drawn by its distinctive global ethos and its unparalleled location, they saw LBS as the ideal platform from which to broaden their horizons, strengthen their leadership capabilities and accelerate their ambitions.

Their experience at LBS proved transformative. Surrounded by classmates from across the globe, they became part of a close-knit learning community that challenged them, expanded perspectives and fostered lifelong relationships. The School’s ability to bring together exceptional talent from different backgrounds demonstrated the very essence of what makes LBS unique: an environment where learning extends far beyond the classroom.

Equally remarkable was the partnership that enabled them to make the most of the opportunity. Throughout their journey, Anjuli and Raj approached each stage of their professional and academic development as a shared endeavour. When Raj pursued his studies at LBS, Anjuli provided stability and support through her own career; later, they reversed roles to enable the next chapter of their ambitions. This mutual commitment to each other’s growth reflects the same long-term vision and resilience that first led them to London.

Anjuli would go on to build a distinguished career at Citi, while continuing to play a pivotal role in the strategic decisions that shaped their future. Raj would become one of the founding partners of GIP. Together, they exemplify how personal partnership, professional ambition and the transformative experience of London Business School can create a foundation for lasting success. Their story reflects both their own vision and determination, and the LBS experience can inspire leaders to think globally, act boldly and achieve lasting impact.

A lifelong commitment to LBS and making a global impact

Since graduating from the globally top-ranked Masters in Finance (MiF) programme, Anjuli and Raj Rao have built a deep and enduring relationship with the School - one defined by generosity, leadership and engagement.

Their contributions span the naming of a study room in the Sammy Ofer Centre, Raj’s ongoing service on the Governing Body, and regular engagement with students, including guest lectures and speaking at School events.

This latest gift marks a new chapter in that enduring relationship.

Investing in people, ideas and impact

The US$20m gift will be invested across three endowed funds designed to deliver lasting impact:

• The Anjuli and Raj Rao Endowed Scholarship for Excellence, providing scholarships for exceptional students in the MiF and MBA programmes and opening doors to outstanding talent from around the world.

• The Anjuli and Raj Rao Endowed Chair, the 12th named chair in the School’s history, strengthening LBS’s ability to attract and support globally leading research faculty.

• The Anjuli and Raj Rao Endowed Fund for Research Excellence, the first endowed research fund at LBS, creating a perpetual source of support for high-impact research that shapes business practice, informs policy and drives positive societal change.

In recognition of their extraordinary generosity and lasting contribution, the School will rename the iconic Plowden Building as the Anjuli and Raj Rao Building.

At the heart of the LBS campus, the Anjuli and Raj Rao Building is a hub of learning, connection and discovery. Its renaming represents more than recognition. It symbolises the Anjuli and Raj’s enduring legacy woven into the fabric of the School, inspiring generations of students and faculty who will pass through its doors in the years to come.

Commenting on their gift, Anjuli and Raj Rao said: “LBS has been central to our journey and we have always wanted to give back in a way that would endure. This gift is about investing in people, ideas and the future of business. Through our scholarship program, we hope to enable exceptionally talented students to access the same platform that LBS provided us with and become leaders on the global stage and create lasting impact within their communities and beyond. Through our endowed research fund and academic chair, we seek to strengthen LBS’s ability to shape the future of business and leadership through world-class research, teaching, and thought leadership.

“We believe that the School’s influence extends far beyond its campus, and we are proud to support its continued contribution to addressing the most important opportunities and challenges facing society and business today.”

Sergei Guriev, Dean of London Business School welcomes the Raos gift saying: “I am incredibly grateful for this extraordinary £15 million gift to the LBS community. Anjuli and Raj Rao’s story is the story of our School. Combining a flagship scholarship, an endowed chair and a pioneering research fund, their gift strengthens our ability to educate the most talented students, attract outstanding faculty, and produce research that shapes the future of business and society. We are proud to name a building in their honour.”

David Pyott, Chair of the Governing Body, added: “This landmark gift is a powerful endorsement of London Business School’s ambition and global standing. As the fourth largest contribution in our history, it reflects deep confidence in our future. The naming of the Anjuli and Raj Rao Building stands as a lasting tribute to Anjuli and Raj’s commitment and will serve as a daily reminder of the role philanthropy plays in enabling us to deepen our global impact.”

Emily Robin, Associate Dean, Advancement, noted: “Philanthropic investment at this scale is truly transformative. Endowment funding allows us to take a long-term view, supporting generations of students, faculty and ideas. This historic gift will shape the future of LBS in perpetuity, and the Anjuli and Raj Rao Building will stand as a visible and enduring symbol of that impact, at the very centre of campus life.”

Gillian Ku, Deputy Dean (Faculty), underscored: “This gift is a major step forward for faculty excellence and research at LBS. The endowed chair and research fund will enable bold, high-impact work that pushes the boundaries of knowledge and informs real-world practice. With the Anjuli and Raj Rao Building as a focal point of our academic community, this investment will help accelerate innovation in ideas, evidence and education for years to come.”

The School will announce the inaugural holder of the Anjuli and Raj Rao Endowed Chair in due course.

About Anjuli Rao

Anjuli is a highly accomplished and creative leader with a distinguished career spanning global finance, complex project delivery, and philanthropy. After earning her Master’s in Finance from London Business School in 1999, she began her career in the Investment division of Citigroup in London, where she spent 11 years advising CEOs and CFOs of leading global telecommunications and technology companies. Her work focused on mergers and acquisitions, capital raising, and strategic advisory, supporting clients on landmark transactions and long-term growth decisions.

Prior to Citigroup, Anjuli spent five years working between London and India with ArcelorMittal and ICICI Bank, advising corporate clients on large-scale project financings and infrastructure investments.

Anjuli has a deeply international perspective shaped by formative years in Zambia, early adulthood in India, and nearly three decades in London, which she considers home.

Anjuli is actively involved in a range of philanthropic initiatives reflecting her deep commitment to social impact and cultural enrichment. She is deeply committed to education as a core component of her philanthropic efforts and serving those from underprivileged backgrounds. Anjuli serves as a Trustee of the American Society of the Royal Academy of Music and is actively involved in London Business School initiatives.

Anjuli holds a Bachelor of Engineering in Electronics and Communications from the National Institute of Technology, India, an MBA from the Faculty of Management Studies, India, and a Masters in Finance from London Business School.

About Raj Rao

Raj Rao is the President and Chief Operating Officer of Global Infrastructure Partners (GIP) and is a founding partner of the firm. He is a Senior Managing Director of BlackRock and a member of the firm’s Global Executive Committee (GEC).

At GIP, Raj is a member of the Office of the Chairman and is a member of the firm’s Executive Committee and its Investment Committee. Raj was previously GIP’s Global Head of Energy. He is based in New York.

Before GIP, Raj worked in the Global Energy Group of the Investment Banking Division of Credit Suisse and, prior to that, was in the Energy Investment Banking Group at Barclays Capital in London. He began his career in the equity sales group of Kotak Securities in Mumbai.

Raj currently serves on the board of directors of Vena Energy. He has previously served on the board of directors of CLH, London City Airport, Naturgy, Saeta Yield and Transit Gas Pipeline. He is also a member of the Board of Governors of London Business School, the Board of Trustees of Asia Society and the Board of Directors of Sponsors for Educational Opportunity (SEO).