Hawaii philanthropist and businessman Jay Shidler has stepped aside from leading the local real estate investment firm he founded after suffering a stroke last week.

Shidler issued a statement asking for privacy during the coming weeks so that he can fully concentrate on his health. Shidler expects a full recovery and plans to return to work before the end of the year.

The 72-year-old investor and major supporter of the University of Hawaii’s business college that bears his name had a stroke Sept. 23.

Shidler said the two other managing partners at The Shidler Group, Kimberly Aquino and Larry Taff, will lead the Honolulu-based commercial real estate investment firm that Shidler started in 1972.

Last year, Shidler conveyed to the Shidler College of Business his ownership stakes in land under 11 mainland office and hotel buildings so that income from ground lease payments flows to the school. Over the life of the 99-year leases, contractual income will average $21 million a year, or $2.1 billion over the whole term.

Shidler, a UH alumnus, previously made gifts to the college valued at $228 million.

UH officials said income from the most recent investment could be used to eliminate business school tuition within 40 years and also provide for expanding programs, improving facilities and recruiting top professors.