Billionaire investor Warren Buffett's sister has donated $100 million to Northwestern University, which the suburban Chicago school says is the largest single gift in its history.

Northwestern announced the donation on Wednesday morning from Roberta Buffett Elliott. The money will be used to create the Roberta Buffett Institute for Global Studies. Elliott is a 1954 history graduate of Northwestern. It will fund professorships, research, scholarships, student travel grants, visiting scholars and graduate student fellowships, among other initiatives.

The university says Elliott's gift is part of its $3.75 billion fundraising campaign. School officials say including this donation she has given about $110 million to Northwestern.

Northwestern President Morton Schapiro says Elliott's gift will "fundamentally transform" the school's global programming.

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