Hedge Funds

Ex-hedge fund boss gets new job lending against Warhol and Kahlo paintings for Sotheby’s

Auction house's financial-services arm arranges lending against art collections

An ex-hedge fund boss has agreed to invest in auction house Sotheby’s and will take a role as chairman of its art-financing business.

Alexander Klabin will invest an undisclosed sum in the business and serve as executive chair of Sotheby’s Financial Services, the venerable auction house said in a statement.

WSJ Logo