After selecting its 10 designer nominees in July, the CFDA/Vogue Fashion Fund put its finalists through the ringer, testing their skills through a series of challenges that all lead up to tonight's big event. At the award ceremony in NYC, just one of the designers will receive the grand prize of $400,000 to invest in his or her own label. It's the honor that helped launch the successful careers of past award-winners like Joseph Altuzarra and Alexander Wang - and naturally, the fashion elite turned up to celebrate. Hollywood A-listers, style insiders, and models arrive arm in arm with the industry's biggest designers, making this one of our favorite red carpets of the year. Scroll to see who's turned up, and what they're wearing.