Asset rich but cash poor investors will soon be able to borrow against their works of art after a new fund launches this week by financier Falcon Group.
A former Christie’s director has teamed up with Falcon to launch the product which is aimed at helping high-net-worth individuals to raise finance against works of fine art. Tim Hunter, former director of impressionist and modern art at Christie’s, has teamed up with Falcon Group to launch Falcon Fine Art (FFA). FFA uses Falcon’s balance sheet and some of the arrangements will allow collectors to retain possession of their artwork. The business will focus on Old Master, impressionist, modern and post-war art.
Mr Hunter, vice president of Falcon Fine Art, said: “Through combining my knowledge of the art world with Falcon Group’s expertise in structured and innovative financing solutions, Falcon Fine Art is able to bring something new and sophisticated to the art market.”Reuse content