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May 29, 2019  

Family Office Pitches Art-Loan Fund

A family office that has earned steady profits writing loans to buyers of fine art is opening the strategy to outside investors.The Los Angeles operation, Shinnecock Partners, began investing May 1 through a commingled vehicle dubbed Art Lending Fund. It targets annual returns of 8.5-9.5% by originating short-term loans secured by paintings whose values typically exceed $1 million. The fund will employ leverage of up to 1.5 times equity...

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