IndexAtlas Announces Launch of $50 Million Art Industry Fund
Private Equity Fund to Focus on Businesses Serving the Art Industry
NEW YORK (Business Wire EON) April 16, 2008 --
IndexAtlas has announced the
formation of the Art Industry Fund, a multi-million dollar private
equity fund that will invest exclusively in businesses serving the art
industry. Auction houses, advisory services, financial and security
firms as well as software and media companies are among those being
considered for inclusion. The fund will not invest in art assets.
The IndexAtlas Art Industry Fund will begin investing an initial fund of
$50 million on June 1, 2008 and is anticipated at being fully invested
no later than December 31, 2009. The average investment will be in a
range of $3 to $8 million and is expected to last four years.
According to IndexAtlas Group's founder and CEO Sergey Skaterschikov,
the fund aims to generate an annualized IRR in excess of 35%. The fund
has no geographic limitations, though a strong preference for companies
with operational headquarters in the United States prevails.
Skaterschikov will serve as investment manager and will run the fund
management team of five investment and research professionals based in
New York.
"The fund's primary objectives are to bring increased transparency to
art investing and to support development and expansion of lasting
institutions that will serve the art world and the greater alternative
investment market as a whole," said Skaterschikov. "We seek to attain
that mission in challenging art market environment by actively adding
value in the boards of our portfolio companies and adhering to the
ethical and transparency standards of today's mainstream financial
markets."
A 35-year old Russian national based in Moscow, Sergey Skaterschikov is
a financier with 15 years of experience in the investment markets and
boards of public and private companies. In 2001 he established
IndexAtlas, an investment banking boutique with offices in New York,
Moscow and Vienna. IndexAtlas Group is engaged in investment banking,
corporate finance and strategy, private equity and alternative
investments. Since its inception, IndexAtlas Group has advised on $2.4bn
in M&A, IPO, private equity and debt transactions. As of 31 March 2008,
it had over $0.4bn in private equity funds under management and fully
invested.
In 2007, Sergey Skaterschikov's first book, "Skate's Art Investment
Handbook," was published in Russia and the U.S. Directed at private and
institutional investors in art starting from $1 million in allocation to
art assets, the study remains the most current comprehensive guide to
art investing. It drew upon data found in Skate's
Art Investor's Service, an IndexAtlas Group member company that
provides high net worth individuals, private wealth managers and
institutional investors with unbiased investment research on the world's
most valuable art.
"The IndexAtlas Art Industry Fund is an application of the driving
principals expressed in "Skate's Art Investment Handbook," said
Skaterschikov. "I encourage anyone interested in the Fund to read it."
**Media Contact for Backgrounder,
Interviews & Copy of "Skate's Art Investment Handbook:"
Cultural Communications,
445 Park Avenue, 9th Floor, New York, NY 10022
Release Summary:
New multi-million dollar private equity fund will invest exclusively in
businesses serving the art industry. Auction houses, advisory services,
financial and security firms, software and media companies are among
those being considered for inclusion. The fund will not invest in art
assets.
Keyword Tags:
alternative investment market, alternative investment market uk, art
industry, investing in art, private equity fund, value investing art,
venture capital, hedge fund, private equity
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