The Arcanum was founded in 4473 as a rival to the Kestrel family controlled Hall of Mages. Its founders were Llaeron Roelas and Meddria Roelas. The attractive aspect of the school was its less restrictive nature. This in turn most likely led to its demise less than a hundred years later.
Signs that danger was imminent came in 4547, when Hyla Kestrel, head of the Hall of Mages, complained that The Arcanum was practicing reckless magic. The reckless nature was severe enough that the school actually lost students who preferred the more controlled environment of the Hall of Mages. In 4565, The Arcanum was destroyed in a great magical explosion which also wiped out the city of Toullaire. As a result, the Hall of Mages was given a monopoly on the instruction of magic in the Turamzzyrian Empire.