Peter Waite was a South Australian pastoralist, businessman, company director and public benefactor. Waite's philanthropic endeavors provided significant benefit to the University of Adelaide and to local public schools, and generations of students have benefited from his largesse.

The University of Adelaide is a public research university located in Adelaide, South Australia. Established in 1874, it is the third-oldest university in Australia. The university's main campus is located on North Terrace in the Adelaide city centre, adjacent to the Art Gallery of South Australia, the South Australian Museum, and the State Library of South Australia.