Culture secretary hails 'generous gift', which will see gallery room named after Australian philanthropist and wife
Michael Hintze ? a hedge fund manager, Tory party donor and philanthropist ? has donated �2m to the National Gallery, which will be spent on gallery refurbishment, it was announced today.
Room 8 of the gallery, which contains Italian paintings from the 15th and 16th centuries such as Raphael's The Madonna of the Pinks and The Manchester Madonna by Michelangelo, will now be called the Dorothy and Michael Hintze Room.
Hintze, an Australian who founded the hedge fund CQS in 1999, is a regular giver to the arts, supporting institutions including the Old Vic, the V&A and Wandsworth Museum.
The National Gallery's director, Nicholas Penny, paid tribute to the Hintzes for donating when "the need to support the arts has never been greater".
The money will be used for refurbishment, including the installation of new technology and lighting that will reduce the gallery's running costs and carbon footprint.
The gift comes as the government attempts to boost philanthropic giving.
The culture secretary, Jeremy Hunt, said: "Giving money to arts and culture is an incredibly public-spirited thing to do and this is one of a number of generous gifts made by two exceptional people.
"Their gift to the National Gallery is truly inspirational and I hope others will be moved to follow their example."
Hintze said: "We have always sought to give back to those institutions that have enriched and given so much to our lives.
"Private benefactors have historically formed some two-thirds of the National Gallery's support and in these difficult economic times the commitment of private individuals is especially important."
Source: http://www.guardian.co.uk/artanddesign/2011/jan/20/michael-hintze-donation-national-gallery
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