New $25 million fund buying up Chinese art

  • A doucai chicken cup, produced during China’s Yongzheng rein, (1723- 1735), cost $400,000.

    A doucai chicken cup, produced during China’s Yongzheng rein, (1723- 1735), cost $400,000.

    Photo: Brian Cassidy, St. Louis Business Journal

The St. Louis-based Xiling Fund, LLC. launched four years ago with $17 million earmarked for investment purchases of antique Chinese porcelain.

Managed by Bill Carey, president and chief investment officer of Cortland Associates, a Clayton, Missouri, investment firm with $450 million in assets under management, this private fund is now fully invested with a 20-piece collection

A second private investment fund is underway. Xiling Fund II raised $25 million from less than 100 investors.

Carey and his advisors are after imperial Chinese porcelain. Their goal is to hold onto the collection for 10 to 15 years, loaning certain works to museums, and then systematically sell pieces at auction to China's new wealthy elite.

According to a recent appraisal, the collection has appreciated by 64% in market value, says Carey of the original fund.

Acquisitions for the fund are guided by two London-based Asian art experts: John Berwald and David Priestley.

 

 

More News Feed Headlines

Ai Weiwei's Life Cycle (2018) will be on view at the non-profit Marciano Art Foundation in LA.

Ai Weiwei's New Work 'Life Cycle' Debuts in L.A. This Fall

  • August 19, 2018 22:57

Marciano Art Foundation will present a solo exhibition of Chinese artist Ai Weiwei, on view from ...

Read More

An 18th century lacquer box that was stolen from the Chinese Pavilion of the Swedish Royal Palace Drottningholm in 2010

GQ Investigates the Rise in Chinese Art Thefts Worldwide

  • August 19, 2018 20:53

GQ sent writer Alex W. Palmer to investigate the sharp increase in Chinese art heists at museums ...

Read More

Kate Ballis, 'Sheats Goldstein', 2017.  Archival pigment print

Kate Ballis's 'Hypercolour Fantasy: Infra Realism' Depicts California in a Whole New Light

  • August 16, 2018 13:10

Felicity Carter writes in Forbes: At first sight, the work of Kate Ballis may not look like ...

Read More

Andy Warhol's Mao Zedong series of portraits in the Tehran Museum of Contemporary Art vault.

Artworks Rediscovered in Tehran Museum of Contemporary Art's Vault in 2019 Exhibition

  • August 15, 2018 22:22

A trove of artworks hidden away in Iran's Tehran Museum of Contemporary Art will finally be on ...

Read More

Related Press Releases

Related Events from ArtfixDaily Calendar

 

ArtfixDaily Artwire