The following is an open letter from Christophe Beauvilain regarding the forthcoming "Pygmalion Foundation".

Dear Investor,

Finally, a personal note unrelated to the direct investment activity of Pygmalion Capital, but one I feel is important to share with you:

For many years I have been puzzled by the inequity of the UK education system. As a Frenchman, I have always viewed good and free or affordable education as an essential feature of any society. In the UK, the two-tier system of State Schools versus Independent Schools (i.e., private schools) provides children of well-to-do families an unjustified and arbitrary, but significant, advantage. A glaring statistic highlighting this point is that while only 7% of children attend Independent Schools in the UK, these children receive 42% of offers from Oxford and Cambridge universities.

My personal ambition is to set up the Pygmalion Foundation in 2026, aimed at providing financial assistance to bright children in the UK who cannot afford the benefits of a private education. I have identified the team who will have the responsibility to run the Foundation and implement its vision. In order to support the Foundation, which I want to be independently funded, I intend to allocate a proportion of Pygmalion European Hotel Fund III’s management fees to the Pygmalion Foundation.

Yours sincerely,

Christophe Beauvilain