Published June 12, 2011
Cavendish Corporate Finance LLP is pleased to announce that it has raised close to £10 million of start-up capital to enable Professor AC Grayling to establish a new first-class independent university college based in central London offering a new model of higher education for the humanities in the UK. The funds were raised from a range of private investors including a number of prominent individuals from the world of business and finance.
To establish the New College of the Humanities ("NCH"), Professor Grayling has brought together 14 world leading academics, such as the historians Sir David Cannadine, Linda Colley and Niall Ferguson; Steven Pinker, the psychologist; Sir Christopher Ricks, former Oxford professor of poetry; and Steve Jones, the geneticist, who will not only teach at NCH but are also shareholders. Students of NCH will receive a best in class education, with 1:1 tutorials, 12-13 contact hours per week and a student/teacher ratio of better than 10:1. NCH will prepare students for University of London degrees in Law, Economics, and humanities subjects including History, Philosophy and English literature. In addition, all students will take three intellectual skills modules in science literacy, logic and critical thinking, and applied ethics, as well as being taught professional skills to prepare them for the world of work. NCH's innovative economic model combines scholarship and tuition fees, with assisted places to more than 20% of the first year's intake.
Professor AC Grayling, who will be the first Master of NCH, comments: "At NCH we believe in the importance of the humanities and excellence in education. Our priorities at the College will be excellent teaching quality, excellent ratios of teachers to students, and a strongly supportive and responsive learning environment. Our students will be challenged to develop as skilled, informed and reflective thinkers, and will receive an education to match that aspiration".
On the fundraising, Charles Watson, the Chairman of NCH commented:
"Cavendish Corporate Finance has been integral to the establishment of the New College of the Humanities, providing both valuable advice and managing a successful fundraising process that has enabled us to have a stellar founding shareholding group that provides not just capital but also experienced investors who will help NCH succeed and flourish.
Simon Ramery, the Partner at Cavendish who led the fundraising, said:
"I am very pleased to have worked with Professor AC Grayling and his team to help establish a new entrant in the UK higher education market, which will over the years provide an outstanding higher education to generations of students , who will go on to flourish in today's world. My colleagues at Cavendish and I wish New College of the Humanities every success in its journey ahead."