Gundlach Offers $1.7 Million For Stolen Paintings

Sep 25 2012 | 1:54am ET

A week-and-a-half after a $10 million heist at his California home, hedge fund manager Jeffrey Gundlach is increasing the stakes in the search for his lost art.

The DoubleLine Capital founder said he would pay an additional $1.5 million in rewards for information leading to the recovery of four of the artworks stolen from his home earlier this month. The new offer, made during a press conference in Los Angeles yesterday, is on top of the $200,000 reward he offered last week for information leading to the return of the stolen items.

At the press conference, Gundlach said he would pay $1 million for the retrieval undamaged of a painting by Piet Mondrian, "Composition (A) en Rouge et Blanc." The $500,000 reward is for Jasper Johns' "Green Target" and two works by Joseph Cornell.

The thief or thieves, who broke into Gundlach's Santa Monica home between Sept. 12 and Sept. 14, while Gundlach was away, also took works by Philip Guston and Franz Kline, among others, as well as five luxury watches, wine, cash and the bond expert's 2010 red Porsche Carrera 4S. At least 10 paintings were stolen.

Gundlach would not say whether his art collection is insured.


In Depth

Fitch Says Alternative Asset Managers 'Stable' Despite Dry Powder

Nov 20 2014 | 9:30am ET

Ratings agency Fitch says the outlook for seven publicly traded alternative asset...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.