The 11th Global Alba Truffle Auction was recently held in the small town of Grinzane Cavour near Alba, Italy. Private-equity investor Joseph Bae, of Kohlberg Kravis Roberts & Co., Hong Kong, set his sights on an exquisite Alba Truffle. This particular truffle weighed in at 750gms (1lb 10oz) and was eventually bought by Mr Bae for a princely sum of 1 million Hong Kong Dollars, or £90,000. In all, the truffle auction raised over £212,121.00 and the total proceeds went to support three children's charities -- the Changing Young Lives Foundation and Mother's Choice in Hong Kong and the village of Tempera, Italy, which will use the funds to rebuild a children's nursery destroyed in a recent earthquake. Mr Bae was keeping the fate of his prize close to his chest, but he and five of his fellow business men did dine out that night on a special eight course truffle based meal, prepared by Italian chef, Massimo Camia.

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