Hedge fund manager Ken Griffin announced on Wednesday he will give away a sizable chunk of his wealth to Carnegie Mellon University to build a new campus in Miami, marking a historic investment in one of Florida’s largest cities.

Griffin is donating $3 billion to the institution, describing it as the “largest single investment in higher education in the history of the United States.” The donation will primarily be directed toward building a new campus in Miami’s Wynwood neighborhood, expected to open for graduate students in 2028 and accept undergraduates four years later. The remaining billion will go toward Carnegie Mellon University’s original computer science school in Pennsylvania, which will be renamed after Griffin, as well as other priorities.