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A new AIDS institute opening in Manhattan this year with an $11.4 million initial investment is expected to rival the Pasteur Institute in Paris in size by 1992, its sponsors said.

The center will be built with $3 million from the Diamond Foundation and $3.4 million in city funds. The Diamond Foundation also has promised $1 million a year toward the center's operating budget for the first five years.

Dr. David Ho, 37, a member of the AIDS Advisory Committee of the U.S. Centers for Disease Control, will direct the Aaron Diamond AIDS Research Center when it opens in about six months.

Its immediate goal is to attract about 50 top scientists -- many of whom already have federal research grants -- and gather them under one roof for collaboration, said Ho, who was lured from the University of California at Los Angeles.

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