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Thursday, November 26, 2020

Hedge Fund Manager Alexander Klabin Bets Big on Sotheby’s

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US hedge fund manager Alexander Klabin has acquired a minority stake in storied auction house Sotheby’s and will serve as executive chairman of the company’s financial arm, Sotheby’s Financial Services (SFS). In his new role, the terms of which have not been disclosed, he will oversee the modernization of SFS’s underwriting services and improve its access to capital markets.Klabin, a cofounder of the Blackstone Group–backed Senator Investment Group, was approached in 2019 by a coalition of four former Sotheby’s shareholders hoping to secure his aid in blocking a $3.7 billion buyout of the auction

Continue reading – https://www.artforum.com/news/hedge-fund-manager-alexander-klabin-bets-big-on-sotheby-s-83979

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Phil Gregory Gobble is a 27-year-old professional sports person who enjoys baking, watching television and planking. He is generous and loveable. He has a degree in medicine & is obsessed with reading.

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