William and Kate Raise $1 Million at Dinner Party

10/14/2011 at 08:00 AM EDT

Duke and Duchess of Cambridge's $1 Million Dinner
William and Kate at St. James's Palace
PA Photos/Landov
The Duke and Duchess of Cambridge hosted a St. James's Palace dinner Thursday – and helped raise about $1 million for charity in the process.

The 100 Women in Hedge Funds gala benefited the Child Bereavement Charity, of which William is a patron.

"What you are both doing together to alleviate the suffering of children who have lost family members, and bereaved families who have experienced the tragedy of losing a child, is beyond praise," said the prince while his wife, stunning in a long red gown, looked on.

Her Sarai dress, by Beulah London, was a red silk Jersey with chiffon sleeves (cost: just under $900).

William, who has joined forces with the 100 Women in Hedge Funds to raise money for good causes, also said he found it "gratifying" that two organizations "are working so superbly with one another. "

Ann Chalmers, chief executive of Child Bereavement Charity, said in a statement that the "funds raised will be transformational in helping us extend our reach to more bereaved children, families and professionals throughout the U.K."

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