New York-based IndexAtlas has announced the lunch of the Art Industry Fund, a private equity fund that will invest exclusively in businesses serving the art industry such as auction houses
New York-based IndexAtlas has announced the lunch of the Art Industry Fund, a private equity fund that will invest exclusively in businesses serving the art industry such as auction houses, advisory services, financial and security firms as well as software and media companies. The fund will not invest in art assets.
The IndexAtlas Art Industry Fund will begin investing an initial fund of USD50m on June 1, and is anticipated at being fully invested no later than December 31 next year. The average investment will be in a range of USD3 to USD8m and is expected to last four years.
According to IndexAtlas Group’s founder and chief executive Sergey Skaterschikov, the fund aims to generate an annualised internal rate of return in excess of 35 per cent. The fund has no geographic limitations, but has a strong preference for companies with operational headquarters in the US. Skaterschikov will serve as investment manager and will run the management team of five investment and research professionals based in New York.
‘The fund’s primary objectives are to bring increased transparency to art investing and to support development and expansion of lasting institutions that will serve the art world and the greater alternative investment market as a whole,’ Skaterschikov says.
‘We seek to attain that mission in challenging art market environment by actively adding value in the boards of our portfolio companies and adhering to the ethical and transparency standards of today’s mainstream financial markets.’
A 35-year-old Russian national based in Moscow, Skaterschikov has 15 years’ experience in the investment markets and boards of public and private companies. In 2001 he established IndexAtlas, an investment banking boutique with offices in New York, Moscow and Vienna.
IndexAtlas Group is active in investment banking, corporate finance and strategy, private equity and alternative investments. Since its establishment, the firm has advised on USD2.4bn in M&A, IPO, private equity and debt transactions. As of March 31, it had over USD400m in fully invested private equity funds under management
