Hedge fund man­ager buys stake in Sotheby’s

The Daily Telegraph - Business - - Business -

Alexan­der Klabin, founder of hedge fund Sen­a­tor In­vest­ment Group, has bought a mi­nor­ity stake in auc­tion house Sotheby’s and will serve as ex­ec­u­tive chair­man of its art fi­nanc­ing arm. Sotheby’s was taken pri­vate by tele­coms king Patrick Drahi for $3.7bn (£2.9bn) in 2019. Its fi­nance arm lends against art, with a loan book of $800m.

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