Aug 17 2007 | 12:43pm ET
The subprime mortgage market collapse is poised to sink a very different kind of market: the art market.
Los Angeles billionaire Eli Broad knows both markets well. He’s one of the top ten art collectors in the world, according to ARTnews, and he was also part of a group of investors pouring $1 billion into a troubled Goldman Sachs hedge fund. And he says losses in the latter industry are going to have a big effect on the former.
“Many of the buyers of contemporary are have been hedge-fund managers and other investors who obviously are having a difficult time and have lost lots of money,” he said in an e-mail statement.
Feb 3 2014 | 9:27am ET
In recognition of his extraordinary dedication to philanthropy, Marathon Asset Management’s Bruce Richards will be presented with the Award for Caring during the 16th Annual New York Open Your Heart to the Children Benefit, which takes place on Thursday, March 6. The gala, the largest gathering that Hedge Funds Care/Help For Children holds worldwide, will bring together 1,000 hedge fund executives to raise funds to help prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…