- Associated Press - Friday, June 13, 2014

NEW YORK (AP) - The New York Public Library has received a $2.5 million gift for the creation of a center for the study of the trans-Atlantic slave trade.

The Lapidus Center for the Historical Analysis of Trans-Atlantic Slavery will be housed at the Schomburg Center for Research in Black Culture in Harlem.

The gift also includes the donation of hundreds of rare books and other material on the abolition of the slave trade.

It’s named after Sid Lapidus, ex-managing director of equity investment firm Warburg Pincus, and his wife Ruth.

The library says it’s the Schomburg’s single largest private gift. It will establish the only center of its kind in a public research library and enable the Schomburg to offer fellowships and hire staff.

It’s slated to open in early 2015.