The Art Institute of Chicago has received $19 million from trustee Kenneth C. Griffin and his wife, Anne Dias Griffin, to help construct its new Modern Wing, the Associated Press reports.
The wing's newly named Kenneth and Anne Griffin Court is expected to open in 2009 and will house the museum's modern and contemporary pieces, as well as its architecture and design collection. Expected to cost $260 million, the wing will be composed of two three-story pavilions arranged around a central court.
Kenneth Griffin, 38, is the founder, president, and CEO of Citadel Investment Group, one of the world's largest hedge fund firms. His wife is the managing partner and founder of Aragon Global Management. Major collectors of Impressionist, post-Impressionist, and Modern art, the Griffins recently announced a gift of $500,000 to support the institute's upcoming exhibition of the works of Jasper Johns.