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2026 Virginia Power 50 List: PAUL B. MANNING
CHAIRMAN AND CEO, PBM CAPITAL GROUP, CHARLOTTESVILLE
Virginia Business //March 1, 2026//
Paul Manning. Photo courtesy University of Virginia
Paul Manning. Photo courtesy University of Virginia
2026 Virginia Power 50 List: PAUL B. MANNING
CHAIRMAN AND CEO, PBM CAPITAL GROUP, CHARLOTTESVILLE
Virginia Business //March 1, 2026//
In 2023, Manning and his wife, Diane, donated $100 million to the University of Virginia to create the $350 million Paul and Diane Manning Institute of Biotechnology, which will advance research into new medical treatments like cellular and gene therapies, nanotechnology and immunotherapy. The institute’s expected completion date is late 2027.
Manning founded infant formula company PBM Holdings in 1997 and sold it to Perrigo in 2010 for $808 million. He then launched PBM Capital, a biotech-focused private equity firm in Charlottesville, and has held multiple volunteer leadership roles at U.Va.
In January, he resigned from the university’s board of visitors at the request of incoming Gov. Abigail Spanberger, along with four other members. Manning was involved in negotiations with the Department of Justice and advised former U.Va. President Jim Ryan to resign last June, amid a DOJ probe into the university’s diversity, equity and inclusion programs.
