Athena Launches with $280M Investment Led by Carlyle
October 09, 2015
Athena Art Finance, a specialty finance company dedicated to the global art market, has launched with $280 million of equity capital led by The Carlyle Group and the PE unit of Pictet Group. Athena will offer non-recourse loans exclusively collateralized by works of fine art, starting with the upcoming auction and art-fair season; the company seeks to distinguish itself by not aiming to sell or take an ownership interest in any of the works backing its loans. Equity for Carlyle's investment came from Carlyle Global Financial Services Partners II, a $1 billion fund closed in 2014.