The Kennedy School of Government has raised $383 million as it works towards a capital campaign goal of $500 million, according to school spokesperson Doug Gavel. 

The figure represents more than 75 percent of the school’s fundraising target, and comes less than a year after its public phase launch in May 2014. At the time of the launch, the school had already raised $336 million during the campaign’s quiet phase. By late last August, the school had raised $355 million. 

The capital campaign will support a number of Kennedy School initiatives, most notably the campus remodeling and expansion effort that is slated to start after Commencement this spring. The construction will add 77,000 square feet of new building space and is focused in part on creating a more collaboration- and discussion-friendly academic environment.

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Major public gifts thus far include a $3.5 million donation from hedge fund manager Louis M. Bacon last September and $11 million from Norwegian business magnate Christen Sveaas last October.

The Kennedy School’s goal is about eight percent of the University’s overall goal of $6.5 billion, twice the $250 million goal of the Graduate School of Education but only half of the Business School’s $1 billion target. The Business School passed a similar milestone in its fundraising in June 2014, having raised at least $721 million.

—Staff writer Luca F. Schroeder can be reached at schroeder@college.harvard.edu. Follow him on Twitter @lucaschroeder.