Clarke Auction -

New $25 million fund buying up Chinese art

  • September 13, 2010 13:28

  • Email
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.



Read more at St. Louis Business Journal

  • Email

More News Feed Headlines

rendering for the Statue of Liberty Museum

New Statue of Liberty Museum Opens

  • New York Times / May 21st, 2019

On Liberty Island in New York Harbor, under the gaze of the 151-ft-tall Statue of Liberty that atttacts 4.5 million ...

Mark Rothko’s Untitled, 1960, sold for $50.1 million.

A Bacon and SFMOMA's Rothko Boost Sotheby's $341.9 Million Contemporary Art Sale

  • ARTnews / May 19th, 2019

Sotheby’s Contemporary Art Evening Auction wrapped in New York with a total of $341.9 million, with a ...

Courtyard of the Louvre, with I.M.  Pei's Pyramid.

I.M. Pei, Renowned Architect of Louvre Pyramid, Remembered

  • NPR / May 16th, 2019

Modernist architect I.M. Pei, known for iconic structures from the Louvre Pyramid to Cleveland's Rock & Roll Hall ...

Paul Gauguin, Nafea Faa Ipoipo? (When Will You Marry?), 1892, oil on canvas.

Simon de Pury Wins Legal Dispute With Friend Over Commission in 'Handshake' Deal for Gauguin

  • ArtNews / May 16th, 2019

Former Sotheby’s Europe chairman Simon de Pury has won a legal battle with his childhood friend over the sale of one ...


Related Events

Goto Calendar

ARTFIXdaily Artwire