ATLANTA (AP) - A hedge fund investor and his wife have donated $10 million to a historically Black women's college in Atlanta.
Spelman College announced the gift from Seth and Beth Klarman on Monday.
The sum will go toward scholarships with an emphasis on helping students overcome financial barriers that may prevent them from graduating, Spelman said in a statement.
The Klarmans have committed more than $16 million to Spelman since 2015, according to the school.
Seth Klarman helped found the Boston-based private investment partnership the Baupost Group in 1982. His net worth is estimated at $1.5 billion, according to Forbes.
The donation follows two other large gifts to the college this summer. In June, Netflix CEO Reed Hastings and his wife, philanthropist Patty Quillin, gave $40 million for scholarships. In July, philanthropist MacKenzie Scott donated $20 million for technological infrastructure and other causes, news outlets reported.