Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Art Funds: Who's Left Standing?

April 9, 2009 by Marion Maneker

The Art Newspaper conducts a tour of the art fund universe. The report isn’t very encouraging [All bullet points are quotes from The Art Newspaper]:

  • The London-based Art Trading Fund, which launched its second fund in May 2008, has had to “delay” its plans as it was “unable to raise the necessary amounts”, co-founder Chris Carlson said. The fund aimed to raise $50m to invest in contemporary art and boasted Mr Saatchi as one of its consultants.
  • Meridian Art Partners, a New York-based fund that aimed to raise $100m during 2008, has also run into difficulties. Co-founder Andrew Littlejohn said that it became apparent towards the end of 2008 that the drop in confidence “precluded most investors from being interested in longer-term investment vehicles”, particularly something that is “as esoteric as art”.
  • Philip Hoffman, who launched the London-based Fine Art Fund five years ago, says his funds are a success, although his returns cannot be independently confirmed.
  • Dean Art Investments, which aimed to raise $50m, is also said to have been unable to attract the necessary capital.
  • Market sources add that a planned €100m fund—a joint venture between Phillips de Pury and Milan-based Advanced Capital that announced its intention to launch last summer—has also found it difficult to get investors. [ . . . ] But Advanced Capital said it has been waiting to get the green light from the Italian authorities before beginning the official marketing process, so its launch date has not yet been announced.

Downturn Hits Art Investment Funds (The Art Newspaper)

More from Art Market Monitor

  • An Art Fund RevealedAn Art Fund Revealed
  • When Bottom-Fishing is a Bad IdeaWhen Bottom-Fishing is a Bad Idea
  • Salmon: Art No Longer an AssetSalmon: Art No Longer an Asset
  • $300 Million in Art Loans: Tip of the Iceberg?$300 Million in Art Loans: Tip of the Iceberg?
  • Australia Backstops Its Art MarketAustralia Backstops Its Art Market
  • Is This a Good Time for a €100 Million Art Fund?Is This a Good Time for a €100 Million Art Fund?

Filed Under: Uncategorized Tagged With: Art Funds

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor