January 02, 2012 15:04 ET
W. P. Carey Foundation to Be Primary Beneficiary of Wm. Polk Carey Shares in W. P. Carey & Co. LLC
NEW YORK, NY--(Marketwire - Jan 2, 2012) - The Trustees of
the W. P. Carey Foundation announced today that the
Foundation will be the primary beneficiary of shares of
common stock in W. P. Carey & Co. LLC (NYSE: WPC)
held by Wm. Polk Carey. Mr. Carey died earlier today.
Mr. Carey was the founder and Chairman of both W. P. Carey &
Co. LLC and the W. P. Carey
Foundation.
Francis J. Carey, President of the W. P. Carey Foundation,
said, "All of the Trustees of the Foundation join me in
mourning Bill's passing. Bill Carey was determined that
the charitable work he pursued throughout his life should
continue long after his death. For this reason, he arranged
that The Foundation will be the primary beneficiary of his
shares in W. P. Carey & Co. LLC."
Francis J. Carey continued, "The Board of Trustees of
the Foundation intends to hold the WPC shares over the long
term in accordance with Bill Carey's life-long
philosophy of Investing for the Long Run™ and in light of the
stock's outstanding, cycle-tested track record. We have
the utmost confidence in W. P. Carey & Co. LLC's senior
management team as led by CEO Trevor Bond and under the
guidance of the Board of Directors, which is comprised of
highly talented business leaders and academics."
The W. P. Carey Foundation is a private U.S. foundation, incorporated in 1988 by Wm. Polk Carey, with a tradition of focused philanthropy. Inspired by the Carey family's legacy of educational leadership and philanthropy, The W. P. Carey Foundation's primary mission is to support educational institutions with the larger goal of improving America's competitiveness in the world. The main focus of our support to schools, universities, lecture series, chairs and other programs is on the study of business, economics and law, as well as on admissions procedures and college and career guidance.
Contact Information
FOUNDATION CONTACT: Juliana Harris
212-492-1108
Email Contact
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