Annie Leibovitz can keep photography portfolio under new debt deal

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The Independent Online

Annie Leibovitz has entered into an agreement with a private investment firm to help manage her debt and market her portfolio of celebrity images.

Colony Capital LLC spokeswoman Caroline Luz said Tuesday that the photographer will retain control of her portfolio under a deal signed Monday.

Colony will become the photographer's sole creditor. It says the Santa Monica, Calif., firm will help market her images, which include covers for Vanity Fair, Vogue and Rolling Stone.

Leibovitz won an extension last year to repay a $24 million loan to the Manhattan firm Art Capital Group. Colony is helping her manage that loan.