PITTSBURGH — Carnegie Mellon University announced a $1 billion capital fundraising campaign already is more than halfway to the goal.

The campaign began in 2003 and is raising money for scholarships, faculty recruiting and retention, and enhancing campus buildings, among other things.

President Jared Cohon said the campaign will shape the university's future.

The $550 million raised has endowed 132 scholarships, 38 fellowships and 17 chairs for faculty.

The biggest gift so far is $55 million from alumnus David Tepper and his wife, Marlene, for the graduate business school now named after him.