isphere_art_cult on Nostr: Abu Dhabi's sovereign wealth fund, ADQ, is set to acquire a minority stake in ...

Abu Dhabi's sovereign wealth fund, ADQ, is set to acquire a minority stake in Sotheby's for approximately $1 billion. The deal marks the first venture into the cultural sector for ADQ and aims to bolster arts and culture domestically. The partnership is expected to solidify Sotheby's presence in the Middle East, one of the fastest-growing markets for art and luxury.

Source: https://www.artnews.com/art-news/news/sothebys-minority-stake-abq-abu-dhabi-sovereign-wealth-fund-1234714040/