Robert V. LaPenta ’67, ’00H donated the single largest gift in Iona College history with a gift of $15 million, which was revealed at a ceremony on the steps of Hagan Hall Nov. 20.

The gift will go towards a new building connected to Hagan Hall. The new building is expected to be triple the size of the current Hagan.

“We are enormously grateful for this transformative gift,” President Dr. Joseph E. Nyre said at the ceremony. “It will enable us to construct a facility that advances our vision, sharpens our distinctiveness, increases affordability and strengthens infrastructure.”

Among the things that will be added are some state-of-the-art classrooms, case study and meeting spaces, faculty offices, a lecture hall, a business career center and an expanded trading floor, according to iona.edu.

“I am proud to support Iona’s mission of creating graduates that are smart, ethical, creative problem solvers,” LaPenta said during his speech. “My time at Iona prepared me well to be successful in business and positively impact businesses and the livelihoods of others. I believe this gift will enhance Iona’s strong business school performance and reputation well into the 21st century.”

Students are excited about this gift as well.

“As a student, it’s incredible to see an Iona graduate making this sort of investment,” Student Government Association President and senior Tommy Severin said, according to iona.edu. “It really shows how much a very successful individual got from his education and believes in Iona College.”

LaPenta, one of the college’s most generous benefactors, is a member of the Board of Trustees. In the past, LaPenta funded the construction of the LaPanta Student Union and contributed to the Ryan Library renovations and the trading floor in the Hagan School of Business, according to iona.edu.

LaPenta is the founding partner of Aston Capital, which is a private company that specializes in secure military communication companies. He currently serves as the chairman and CEO of Revolution Lighting Technologies and The Radiant Group. He is also the founder of L-1 Identity Solutions and co-founder of L-3 Communications.

The Yonkers, N.Y., native majored in accounting.

“Iona’s a place that is so special to me because it gave me a start,” LaPenta said in his speech. “If you want to be successful, you have to keep your head down and your eye on the ball and keep your eye on the finish line.”

“The gift will go towards a new building connected to Hagan Hall.”

An earlier version of the article stated that LaPenta’s gift will go towards building a brand new business school to replace Hagan Hall. The donation will go towards a new building connected to Hagan Hall.