According to the Financial Times, Robert Tomei–who runs an Italian private equity firm called Advanced Capital–has raised €100 million in co-operation with Phillips de Pury:

The fund will mostly buy contemporary art, but will also invest in photography and design. Mr Tomei is a keen art collector himself, as well as chairman of the investment committee of the Peggy Guggenheim Foundation and board member of the Tate Museum in London and the New York Museum of Modern Art. He and Phillips de Pury have already shown they can make money from art, having made 16 per cent-plus annual returns on the three previous art funds they advised.

Indian Private Equity Firm Claims Madoff Fallout Helpful [sic] (Financial Times)