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Alternative Market Briefing

Shinnecock Partners launches alternative fine art lending fund

Monday, June 03, 2019

Laxman Pai, Opalesque Asia:

Shinnecock Partners, a family office investment boutique, has launched an open-ended, standalone dedicated alternative art lending fund (ALF) building on its seven-year non-bank lending history and fine-art secured lending experience.

According to Alan Snyder, managing partner of Shinnecock Partners, niche investment strategies offer the most compelling investment opportunities in today's low yield environment.

"The art market is vibrant and growing, and boutique lenders like Shinnecock have a competitive edge. Speed of execution, flexibility to custom tailor a loan, constructive insights and independence from auction houses or tied-in banking relationships combine for custom adaptability in loan terms," Snyder said.

Deloitte Touche Tohmatsu Ltd. reported last year that outstanding art secured loans were estimated to be $20bn, up over $13bn, and boutique lenders have been growing fast at 15%.

The potential market is growing as the report indicates with 87% of art dealers looking for financing. In addition, demand for financing is growing among collectors according to Art Dealer Finance, which reports that more than 50% of collectors are interested in using their art as collateral for loans (Art Dealer Finance 2018).

Similar to traditional asset-based lending, art-secured lending is a loan backed by fine art instead of more traditional forms of collateral (e.g., real estate, equipment, inventory or receivables).

The freq......................

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