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One of London's most glamorous hedge fund galas has been cancelled

Dinner thought to be too ostentatious given the economic climate.

Kate middleton ark1Enlarge
Catherine, the Duchess of Cambridge (R) arrives at the 10th Annual Absolute Return for Kids (ARK) Gala Dinner on behalf of the Foundation of Prince William and Prince Harry, at Perks Field, Kensington Palace, in London, on June 9, 2011. (Arthur Edwards/AFP/Getty Images)

A lavish annual hedge fund charity gala dinner in London has been called off this year. 

Hedge fund correspondent Sam Jones at the Financial Times reports that the ARK Gala Dinner, a $15,500-per-ticket event attended by financiers, celebrities and royalty, will not be happening.

It seems some felt the ostentatious event was out of step with the current economic conditions.  

From the FT: 

"It was all getting to feel a little bit 1788 and all that," said a person connected with Ark, in a comparison of the gala to the court of Louis XVI on the eve of the French Revolution.

The annual dinner raised funds for ARK (Absolute Return for Kids), a charity co-founded founded by London-based French hedge fund manager Arpad Busson. 

Guests at past dinners have included the Duke and Duchess of Cambridge, Madonna, Bill Clinton, Pierre Lagrange (co-founder of GLG Partners), Louis Bacon (Moore Capital) and Kevin Spacey, according to Dealbook's Julia Wedingier. 

It's unclear if there will ever be more annual ARK gala dinners in the future. 

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Original Source URL: 
http://www.businessinsider.com/ark-gala-dinner-cancelled-2013-4

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