Christopher Wool: “Untitled” (silk-screen, 2001, detail)

Detail of Christopher Wool’s “Untitled” (silk-screen, 2001).

J. Tomilson Hill, the vice chairman of the Blackstone Group who manages its hedge fund business, is the first American private collector to display his works of contemporary art in Asia.

“Christopher Wool: Highlights from the Hill Art Collection” opened during Art Basel Hong Kong in Central District’s H Queens, the new skyscraper designed by William Lim’s Hong Kong-based CL3 architectural practice and custom-built to house art galleries.

The exhibition, on view from March 27 through April 8, was produced by Hong Kong-based advisor Alexandre Errera.

While Mr. Hill ordinarily does not attend art fairs (dealers call him with works of interest instead), he did make it to Art Basel Hong Kong this spring for the opening of his exhibition of the works of Christoper Hill.

Following Hong Kong, Mr. Hill and his daughter left for Beijing to visit the studios of the about 15 artists there whose works he collects. Mr. Hill collects, for instance, works of Liu Wei. (See my post of yesterday regarding Liu Wei’s “Purple Air D1” of 2008).

Asked about the attraction of Chinese art now, Mr. Hill observes:

“Let’s go back to the different collections that we have,

“which is Renaissance bronzes, old master paintings, a dozen post-World War II artists, and now emerging artists.

They all have one thing in common: At the moment that the art was created, the country of origin was going through a massive series of changes.

“China, in my mind, is going through the same thing now.

“And so I said, ‘I want to be educated.'”

 

See: 1) “J. Tomilson Hill on the Attraction of Contemporary Art,” Ted Lois, The New York Times, 26 March 2018; 2) “J. Tomilson Hill is Giving Asia Its First Christopher Wool Show in Over a Decade,” Nate Freeman, Artsy, 27 March 2018

 

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Blackstone Real Estate is optimizing art as a targeted value-add initiative for its NY real estate portfolio

Blackstone Real Estate is optimizing art as a targeted value-add initiative for its real estate portfolio throughout New York City.

Blackstone is initiating a partnership Hunter College to recognize talented emerging artists while concomitantly giving visitors to its building portfolio throughout the city access to unique works of art.

Last week Jon Gray, Global Head of Real Estate at Blackstone, introduced a new exhibition featuring artwork by students currently enrolled in the Hunter College Master of Fine Arts program: Talia Levitt, Madhini Nirmal, Leonard Reibstein, and Andy Van Dinh.

These works of art, both paintings and large-scale works on paper, will be displayed for a year in the lobby of 5 Bryant Park.

Blackstone is the world’s largest real estate private equity firm with $102 billion of investor capital and $200 billion of gross assets under management.

Blackstone seeks to acquire high quality investments at discounts to replacement cost. The company improves the properties through hands-on management and targeted value-add initiatives.

The breadth of Blackstone’s real estate portfolio provides valuable real-time proprietary market data. Blackstone believes this information enables the company to identify mispriced and/or out-of-favor asset classes more rapidly than its competitors.

Blackstone real estate also operates one of the leading real estate finance platforms, including management of the publicly traded Blackstone Mortgage Trust (NYSE:BXMT).

See:

Blackstone Partners with Hunter College for Student Art Exhibition at 5 Bryant Park” | Blackstone Blog, 12 June 2017

Blackstone Real Estate

#art #realestate #finance #risk #collectionsmanagement #portfoliomanagement #HunterCollege #HunterCollegeMFA #NewYork #Manhattan #Blackstone #privateequity #riskanalysis #risk management #collections