A couple from California has pledged $1.25 million toward a fund for a new building for the University of Kansas School of Business.
The university announced Thursday that the pledge from Kent and Missy McCarthy, of Rancho Mirage, Calif., will be paid over five years.
The couple has already given $2.5 million in various gifts to the business school in the past.
Kent McCarthy, who graduated from the Kansas business school, created an investing class that has helped attract students to the university's finance program.
Missy McCarthy received her bachelor's degree in psychology and a master's in social work from the university.