Abraaj Capital, the premier investment firm specialising in private equity investment across the Middle East, North Africa and South Asia region, has acquired a strategic minority stake in Osian’s Connoisseurs of Art Private Limited, the pioneering arts institution based in India, which is creating a new infrastructure and model for Indian, Asian and Arab arts, cinema and culture.
The investment in Osian’s, made through the Abraaj Buyout Fund II, highlights Abraaj’s continuing support for and investment in cultural and educational initiatives, and further builds on the diverse portfolio of the company, said a statement.
Osian’s is at the forefront of a resurgence of the arts in India, having extensive expertise and following the highest international standards in its auction house, the Osian’s Art Fund & Wealth Management Services for Art Division, the Publishing & Design House, the Literary Agency, the Film House, and its pivotal Centre for Archiving, Research & Development.
Abraaj’s equity participation and board representation will support and accelerate Osian’s continued growth and will assist with the rapid business expansion and ongoing institutionalisation under way at Osian’s.
“Indian, Asian and Arab art is experiencing a period of historic change and development, and the cultural and financial opportunities are phenomenal,” Arif Naqvi, Vice-Chairman and Group Chief Executive Officer of Abraaj Capital, said.
“We are delighted to join the outstanding shareholder base of Osian’s and to support its vision of creating an institution that provides an infrastructure for broad access to the arts in the widest sense whilst also demonstrating that this can be financially viable and attractive,” Naqvi said.
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