Eyal Ofer has donated £10m to the Tate Modern extension. Ofer’s father was once an influential collector and market participant. The Financial Times reports the donation brings the expansion’s fund raising goals close to completion:

The £215m development, part of which – The Tanks – opened last year, will increase the capacity of Tate Modern by 60 per cent when it is completed by 2016. The gift means the project is 15 per cent short of its total funding.

Eyal Ofer donates £10m to Tate Modern extension (Financial Times)