The University of Colorado Anschutz Medical Campus this week received a $120 million gift, the largest private philanthropic commitment in its history.

The gift made by The Anschutz Foundation will support strategic faculty recruitment and retention, innovative research efforts, industry partnerships and a new 390,000-square-foot health sciences building, a press release from the university said.

The new building will house mental and behavioral health faculty as well as the Colorado Center for Personalized Medicine, the Colorado Clinical and Transnational Sciences Institute, classrooms and exhibit space.

“We are proud partners in the development of the University of Colorado Anschutz Medical Campus and share an ambitious vision for further elevating it among the country’s top medical destinations,” said the founder and chair of the Anschutz Foundation, Philip Anschutz. “The campus stands as a Colorado landmark and a hub of leading-edge research, innovation and education – and, perhaps most importantly, as the place to go for the highest-quality health care delivered by the best minds in medicine.”

University of Colorado Anschutz Medical Campus Chancellor Donald M. Elliman Jr. said the commitment from The Anschutz Foundation “enables us to fully capitalize on the momentum we have seen on this campus since our beginnings here just 17 years ago.”

“Our growth has been exponential and shows no signs of slowing, due in large part to The Anschutz Foundation’s longstanding partnership and this new commitment,” Elliman said.

Anschutz owns the Denver-based Anschutz Corporation, which owns Colorado Politics’ parent company, Clarity Media Group.