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Big Law

YieldStreet acquires Athena for $170M to add art financing

YieldStreet — which raised $62 million in February to further open to a wider base of investors alternative investments in areas like shipping, real estate, legal finance and commercial loans — is today announcing its first acquisition to expand into a new asset class. It is paying $170 million to acquire Athena Art Finance, which provides loans to art dealers, collectors and museums and galleries to buy fine art and other collectibles. Athena was founded in 2015 and was controlled by private equity firm Carlyle Group along with individual investors (one of whom is Olivier Sarkozy, the half-brother of the former president of France).

Read the source article at reuters.com

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