Art of the Deal
Wall Street Journal
17/06/2005

They’re better know for making deals – and then buying art. But when they aren’t buying companies, a lot of financiers make art themselves.

Four years ago, the folks at private-equity advisory firm Altius Associates Ltd. In London noticed that three of its five directors were painters on the side. They asked around and found many more private-equity players find time to put down the deal calculator and pick up a brush or spin a kiln.

Now Altius is organizing “The Art of an Asset Class”, the first exhibition of paintings, photographs, sculptures and even jewelry made by people in and around the private equity world.

The show, to be held at Christie’s in London on Sept. 1, has already attracted some 55 artists. Each can submit as many as three works. Seven pieces have been submitted by executives at California State Teachers Retirement System alone, says Jenny Finlay, an Altius principal who’s organizing the show.
So far, the works range from landscapes to abstract sculpture. “I don’t know why there are so many artists in the private-equity game”, says Ms. Finlay. “People need a creative outlet, I guess.”

The exhibit isn’t an auction. While she’s hyper-competitive in her day job, Ms. Finlay wants to avoid any hurt feelings among the artists: “I didn’t want anybody left hanging on the wall at the end of the night,” she says. Instead, patrons will buy tickets that will have a random number on the back. Ticketholders can leave with the painting that matches the number. Funds raised go to charity.

Private equity’s creative side
Pensions and Investments
13/06/2005

Private equity specialist Altius Associates Ltd., London, is holding an exhibition of art by its staff and anyone else associated with private equity. The firm is selling tickets for a Sept. 1 viewing of the work at Christie’s Inc. in London, and money raised will go to Shelter, a British housing and homelessness charity, and the Multiple Sclerosis International Federation.

Because it is difficult to price non-professional art works, ticket holders will be randomly allocated an exhibit to take home with them, said Jenny Finlay, principal at Altius and exhibition organizer. There will also be a “swap shop” so ticket holders can exchange art works if they are not happy with their selection.

So far, 50 private equity professionals – including Real Desrochers, director of alternative investments at the $123.5 billion California State Teachers’ Retirement System, Sacramento, Va. – have agreed to submit work ranging from sculpture and jewelry to oil paintings and watercolors, said Ms. Finlay.

The exhibition will allow participants to see a more creative side of their peers and colleagues in the private equity industry, said Ms. Finlay.

“The bonus is that they may walk away at the end of the evening with an original by say, one of the CalSTRS team – a priceless adornment and a great conversation point for any meeting room,” she added.

- Beatrix Payne

Venture Artists
The Vulture - Real Deals
2/06/2005

In an effort to expose the creative side of the industry while raising money for charity, Altius Associates has organised an exhibition of art by private equity professionals at Christie's for September 1. Altius expects 250 to 300 people to attend the evening, each of which will win a peer's piece of work. Altius "expects that the quality of submissions will be extremely varied" - a Swap Shop has been arranged for dissatisfied punters. Money raised will go towards Shelter and the Multiple Sclerosis International Federation.