Jeff and Laurie Ubben pledged $50 million to back scholarships for undergraduate, graduate, and professional-school students.

Jeff Ubben founded ValueAct Capital, a private money-management firm in San Francisco. He earned an MBA from the university in 1987 and serves on the Northwestern Board of Trustees’ finance and student-life committees. Laurie Ubben co-founded the Bird School of Music in San Francisco and was executive producer of the film Loving Vincent.