University of St.Gallen lays the foundation for a future fund

At this year’s Dies academicus, the University of St.Gallen (HSG) had even more to celebrate than usual. As President Manuel Ammann announced in his speech, the HSG Foundation recently received one of the largest single donations ever made to the HSG. The donor is AS Holding, the parent company of Kistefos AS, a private investment company owned by HSG alumnus Christen Sveaas. The Oslo-based group was founded in 1956 and manages a diverse portfolio of companies across various sectors, focusing primarily on investments in Europe.

Deep ties to the HSG

Christen Sveaas, owner and Executive Chairman of the Board of Directors of AS Holding and Kistefos AS, completed his degree course at the HSG in the 1980s with a licentiate degree. In addition to his work as an art patron and philanthropist, he has been supporting the HSG in a variety of ways for many years. It is very important to him to give something back to his alma mater, both financially and in terms of support. For years, Christen Sveaas has been making an important contribution to the promotion of talent by awarding scholarships to young Norwegians who wish to study at the HSG. Since 2018, Christen Sveaas has also been a member of the HSG Advisory Board and, since 2025, a member of the Honorary Senate. Finally, the HSG also benefits from his commitment as a collector of modern and contemporary art. For example, he donated the striking sculpture ‘Ourea’ by the British artist Sir Tony Cragg, which is located in front of the SQUARE on the Rosenberg campus.

Establishment of an endowment at the HSG

Christen Sveaas’s donation will benefit the University of St.Gallen in two ways: following the example of private US universities, 20 million Swiss francs will be used as an anchor donation to establish an endowment fund. Under this model, an initial capital contribution generates substantial investment returns and interest through long-term investments, which are then used to finance projects without drawing on the original donation. In the case of the University of St.Gallen, the ambition is to build up a capital base from donations and bequests from supporters, the returns from which will in future benefit generations of students as a ‘future fund’. With this step, Christen Sveaas himself aims ‘to encourage others with links to the HSG to help build a profitable endowment’. A high-calibre, voluntary Investment Committee decides on the endowment’s investment strategy with the aim of achieving the highest possible return. The income will help the HSG to secure the university’s excellence in the long term and enable investment in initiatives that go beyond basic state funding and the university’s mandate. “We owe a debt of gratitude to Christen Sveaas. As a pioneer, he laid the foundation for the endowment. Thanks to such private commitment, we will be able to achieve our ambitious goals,” said Manuel Ammann.

15 Best Talents secured for ten years

In addition, Christen Sveaas’ company Kistefos AS is making a significant contribution of 3.75 million Swiss francs to ensure that the HSG Best Talents Programme, launched in 2025, can be successfully implemented in the coming years. With this scholarship programme for excellence, the HSG is making an important contribution to the development of the next generation of responsible leaders, in line with its vision of ‘Empowering talents, inspiring leaders’. The programme aims to bring up to 45 of the most committed and motivated Master’s students from Switzerland and Europe (EU/EFTA) to St. Gallen each year, in order to provide them with targeted support and challenge. Thanks to the “Kistefos Best Talents Scholarship”, 15 places on this programme are guaranteed for the next ten years. “My degree course in St.Gallen opened doors for me,” explains Christen Sveaas. “By supporting the HSG Best Talents Programme, I am giving young talents the chance to develop into the responsible leaders we will need in the future.”

Further information: HSG Endowment (HSG Foundation)