The Petersen Events Center (more commonly known as "The Pete") is a 12,508-seat multi-purpose arena on the campus of the University of Pittsburgh in the Oakland neighborhood of Pittsburgh, Pennsylvania. It hosts the men's and women's Pitt Panthers basketball teams. The arena is named for philanthropists John Petersen and his wife Gertrude, who donated $10 million ($13.7 million in 2015 dollars) for its construction. John Petersen, a Pitt alumnus, is a native of nearby Erie, Pennsylvania and is the retired President and CEO of Erie Insurance Group. The Petersen Events Center was winner of the 2003 Innovative Architecture & Design Honor Award from Recreation Management magazine.