McMaster University and AIC Group of Funds will officially launch the AIC Institute for Strategic Business Studies tomorrow.

The facility was named after a $5 million gift from AIC. Constructed on the southwest corner of the Michael G. DeGroote School of Business building, the AIC Wing adds three floors, 19 new offices and 17,000 square feet of space equipped with state-of-the-art computer and technical equipment to the existing facilities. It is one of the largest gifts in McMaster’s history.

In addition to the new wing, the AIC gift will support the creation of a chair in Investment and Portfolio Management. Two professorships will also be created, and a $500,000 fund will provide scholarships to business students.