For those of you wondering what ever happened to Annie Leibovitz’s troubled loan portfolio, the answer comes from the Financial Times this evening.
Annie Leibovitz, the celebrity photographer, is turning to Colony Capital, a private equity firm better known for its real estate investments, for loans to help clean up her finances, people familiar with the deal said.
Under terms of their arrangement, Colony will become Ms Leibovitz’s sole creditor […] Ms Leibovitz will retain the rights to more than 100,000 photographs and about 1m negatives stored in a warehouse in Manhattan.
“We will be partners in managing her assets and her business so that Annie can spend her time and focus in pursuing her passion as only she can do,” said Tom Barrack, founder of Los-Angeles-based Colony, which manages about $30bn.
Colony Capital To Take Over Leibovitz’s Loans (Financial Times)