Deals
Fine Art Group Acquires Falcon's Loan Book With Warhol, Picasso
- Firm has $300 million credit fund and uses art as collateral
- Art loans from BofA’s U.S. Trust topped $1 billion last year
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Fine Art Group, an adviser to wealthy families and individuals, has acquired the art-lending division of Falcon Group.
Falcon Fine Art’s book contains more than 10 loans to clients based mainly in the U.K. and Europe, Freya Stewart, who runs Fine Art Group’s lending operations, said in an interview ahead of planned announcement Friday. Collateral includes works by Andy Warhol, Pablo Picasso, Wassily Kandinsky and Alberto Giacometti, she said.