Noted Collector Saatchi To Advise Art Fund

May 23 2008 | 2:00am ET

A London art hedge fund has enlisted the services of a heavy-hitter in the world of contemporary art as an adviser.

The Art Trading Fund, which calls itself the world’s first “regulated fine art hedge fund,” will employ the services of famed art collector and advertising mogul Charles Saatchi in making contemporary art buys. Saatchi, known for popularizing the works of the so-called “Young British Artists” such as Damien Hirst, will advise on buying works by Western, Chinese, Indian and Middle Eastern contemporary artists.

The firm’s second fund is hoping to raise £50 million (US$98.6 million) by the end of the year. It is domiciled in Guernsey, in the Channel Islands.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…