Sept 23 (Reuters) – Hedge fund manager Alexander Klabin will invest in international art auction house Sotheby’s and become the executive chairman of its art financing business, the company said on Wednesday.
The company did not disclose terms of the Klabin’s investment but said he will lead a management team to help Sotheby’s modernize its underwriting process and improve its access to capital markets.
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Sotheby’s Financial Services offers financing against art collections of all types, including those of the late Duchess of Windsor, the personal collection of artist Andy Warhol and Edvard Munch’s painting “The Scream”.
Reporting by Madhvi Pokhriyal in Bengaluru and Krystal Hu in New York; Editing by Arun Koyyur
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