Peter Bennett earned his degree in management from Lehigh University in 1963. As a student, Bennett was a member of the Delta Tau Delta fraternity and played varsity baseball. After graduation he spent two years as a lieutenant in the U.S. Army, and then earned his MBA from the Columbia Graduate School of Business.
Bennett is chairman of Liberty Partners, a private investment company that he founded in September 1992 to provide the capital for leveraged buyouts of medium sized companies. He had spent the previous 21 years at Merrill Lynch as a managing director in investment banking and as a senior vice president of Merrill Lynch Interfunding, Inc. Bennett served as a member of the board of trustees of Lehigh University from 1999-2005 and is currently serving as an appointed trustee. He is currently a member of the advisory board of Lehigh's College of Education. He established the Peter E. Bennett Chair in the College of Business & Economics, currently held by James Hall, in support of the Computer Science and Business program. Additionally, Bennett provides for the Peter E. Bennett Scholarship, as well as for support of computer science and business program at the university.
In 2007, Bennett established the Center for Developing Urban Educational Leaders in Lehigh's College of Education, and the Peter E. Bennett Chair in Urban Principalship. His gift is the largest in the college's history.
He has two daughters and two grandsons. Brooke, his younger daughter, is a member of Lehigh's Class of 1993. Bennett and his wife, Jean Nevins, reside in New York City and Bucks County, Pa.