Pietro Francesco Peggi (1688-1780) taught philosophy at the University for over half a century and he was also famous for his friendship with Pope Benedict XIV, the Bolognese Prospero Lambertini. 

The memorial was painted by the decorative artist Giuseppe Terzi (1749-1837), according to the criterions of eighteenth-century Bolognese scenic painting.
The fresco represents a monumental portal within which a marble bas-relief surrounds the tombstone dedicated to Peggi by his students.
In the upper part of the arcade there is an inscription, dated 1582, that recalls another Bolognese pope, Gregory XIII (Ugo Boncompagni), and alludes to his reform of the calendar, introduced after the Council of Trent.

The memorial, which had been damaged by the bombing of the 29th January 1944, was restored in 2005 thanks to the LIONS CLUB of Bologna. 

The southern side of the arcaded loggia.