Multi-millionaire businessman Mr J.P. McManus is the "mystery" benefactor behind a €5 million donation to the University of Limerick, it has been confirmed.
The donation was made on condition that a business school at the university is named after the late Limerick politician, Jim Kemmy.
It's understood the gift is the largest ever given by an Irish benefactor to a third-level institution in this country.
The money will be used to develop the university's business school which will be renamed "The Jim Kemmy Business School" in honour of the late Labour TD and former Limerick mayor.
While university authorities were still remaining tight-lipped last night about the identity of the "mystery" philanthropist, it was confirmed that Limerick businessman Mr McManus was the man behind the donation.
"J.P. McManus has very strong ties with Limerick but he's a very modest man and while he wanted to make a donation to the university's business school, he did not want it to be named after him," said a senior academic source.
Last night, the family of the late Mr Kemmy welcomed the decision to name the new Business School after the late Labour TD.
His brother, Mr Joe Kemmy, confirmed last night that he had recently met the so-called "mystery" benefactor and had been consulted about the plan by the University of Limerick president, Dr Roger Downer.
"I told Dr Downer that the family would have absolutely no objection to the plan. Jim was a very pragmatic man and we have no problem with him being honoured in this fashion," he said.
Mr Kemmy also denied suggestions that his late brother, who wrote a book about the Limerick Soviet, would have been opposed to the advancement of business.
"I wouldn't say that Jim was anti-business, although in his trade-union role he would have been in favour of improving members' conditions. He would certainly have been in favour of anything that would enable more of our children to have the benefit of a good education - something Jim didn't have until he did it for himself," said Mr Kemmy.
The Dean of the College of Business at University of Limerick, Mr Donal Dineen, said last night he was overwhelmed at the size of the contribution.
"I was quite surprised at the size of this donation because funding from this sector can be very hard to come by. This is a major contribution from an Irish person and we're absolutely delighted with the vote of confidence that we've received," said Mr Dineen.
The €5 million donation was secured through the University of Limerick Foundation which is in the early stages of a major new fund-raising campaign at the Limerick campus.
Previously, the foundation has secured sizeable donations from Irish-American philanthropists, including Mr Lewis Glucksman, Ms Loretta Glucksman and Mr Chuck Feeney.
Currently, the business school has some 2,500 students engaged in a range of undergraduate, postgraduate, and professional training programmes. The new centre will bring all faculty staff and students together in the same building.
Authorities at the University of Limerick plan to have the new building open for the 2005/6 academic year.