Financing solutions for the global art market

Flexible credit solutions to unlock liquidity from fine art collections. You value your art collection, so do we.

Financing solutions for the global art market

Flexible credit solutions to unlock liquidity from fine art collections. You value your art collection, so do we.

The Athena approach

Founded in 2015 by The Carlyle Group, Athena Art Finance is an institutional, specialty lender dedicated to making loans secured by blue-chip fine art. In 2019, Athena was acquired by Yieldstreet.

Providing financial flexibility

Athena is able to satisfy a wide variety of financial needs. We will create bespoke loan structures to meet our clients’ financial objectives and goals.

Athena solves various needs for capital

Individuals and Businesses

Bridge to sale, art acquisitions or other investment opportunities

Trusts and estates

Liquidity to support trust beneficiary needs or to meet estate related obligations

Foundations and Institutions

Support operations and expand grant-making capabilities

Galleries

Working capital, capital expenditures and general liquidity needs

Museums

Support operations and art acquisitions

Program Highlights and Financial Terms

Collateral Eligibility
Works by artists with a proven track record at auction. Collecting categories include Post War and Contemporary, Impressionist and Modern and Old Master Paintings and Drawings; additional categories are reviewed on case-by-case basis.
Loan Value
Our loan sizes vary, but generally begin at USD $2 million, although smaller commitments may be considered. We lend up to a 50% LTV based on a third-party independent appraisal on a marketable cash value basis.
Interest Rates
We offer competitive interest rates. The rate depends on the quality and diversity of the collection, its location and specific loan structure. Our rates generally range from mid-to-high single digits.
Maturity
Loan terms are typically 1 – 3 years.
Global and Off-Shore Capability
Athena originates loans to borrowers in the U.S., Canada, the UK, Switzerland, Singapore, and HK. We also have expertise lending into off-shore locations such as the British Virgin Islands, Jersey and Guernsey.
Loan Structures
We offer a variety of loan structures and flexible terms tailored to meet client needs. Loan origination fees generally range from 1%- 2%.

Program Highlights and Financial Terms

Collateral Eligibility

Works by artists with a proven track record at auction. Collecting categories include Post War and Contemporary, Impressionist and Modern and Old Master Paintings and Drawings; additional categories are reviewed on case-by-case basis.

Loan Value

Our loan sizes vary, but generally begin at USD $2 million, although smaller commitments may be considered. We lend up to a 50% LTV based on a third-party independent appraisal on a marketable cash value basis.

Interest Rates

We offer competitive interest rates. The rate depends on the quality and diversity of the collection, its location and specific loan structure. Our rates generally range from mid-to-high single digits.

Maturity

Loan terms are typically 1 – 3 years.

Global and Off-Shore Capability

Athena originates loans to borrowers in the U.S., Canada, the UK, Switzerland, Singapore, and HK. We also have expertise lending into off-shore locations such as the British Virgin Islands, Jersey and Guernsey.

Loan Structures

We offer a variety of loan structures and flexible terms tailored to meet client needs. Loan origination fees generally range from 1%- 2%.

The Athena process

Athena’s In-House Experts Ensure Seamless Service, Absolute Discretion and Optimal Loan Terms

Our underwriting process begins with a discreet and confidential discussion to gather general information about the art collection and the client. In general, the process can be broken down into four simple steps:

Step I

Preliminary Confidential Discussions

Step II

Indicative Term Sheet and Engagement Letter

Step III

Formal Due Diligence

Step IV

Loan Documentation, Closing and Funding

To begin, we gather high resolution images and a description of the proposed artwork. Once we establish that the artworks meets our collateral eligibility criteria, we create a customized term sheet to meet your needs. Once agreed, an engagement letter is signed and we begin our formal due diligence and loan documentation processes.

Well catalogued collections allow us to complete the loan underwriting process in three to six weeks, although this can vary depending on the number of pieces in the collection, their location and complexity of the loan structure.

If you believe an art loan is an interesting financial solution for you or your client, we can make a quick assessment based on the following information:

  • High resolution images of each artwork
  • General description, including artist, title, date of creation, medium, dimensions
  • Location of the collection
  • Provenance and exhibition history

To begin the art loan process:

  • Contact us to discuss your financing needs and artworks to be offered as collateral
  • Athena will evaluate the artworks and their collateral eligibility
  • Athena will then structure a loan to meet your needs
  • Once agreed, Athena will start the loan underwriting process to fund as quickly
    as possible

Getting started

If you believe an art loan is an interesting financial solution for you or your client, we can make a quick assessment based on the following information:

  • High resolution images of each artwork
  • General description, including artist, title, date of creation, medium, dimensions
  • Location of the collection
  • Provenance and exhibition history

Next steps

To begin the art loan process:

  • Contact us to discuss your financing needs and artworks to be offered as collateral
  • Athena will evaluate the artworks and their collateral eligibility
  • Athena will then structure a loan to meet your needs
  • Once agreed, Athena will start the loan underwriting process to fund as quickly
    as possible

 

We are available anytime to discuss your liquidity needs, and look forward to working with you.

Meet the team

We are available anytime to discuss your liquidity needs, and look forward to working with you.

Cynthia Sachs

CEO & Chief Investment Officer

Giovanna Quattrone

Art Valuation, Research & Logistics

Noah Kupferman

Director of Business Development

Maureen Keating

Senior Investment Associate

Rebecca Fine

General Counsel

25 years of institutional finance experience across loan origination, structuring, credit analysis and underwriting, portfolio management, credit trading, data analytics, and fixed income valuations at major global institutions including Morgan Stanley, Bank of America, and Bloomberg. She received her MBA in Finance from NYU’s Stern School of Business.

25 years of legal experience providing transactional advice to art-related businesses, collectors, and UHNW clients. Rebecca has also litigated many complex cross-border disputes while at Simpson Thacher & Bartlett, Hale and Dorr, and Schindler Cohen & Hochman. She received her JD from Columbia Law.

20+ years of global art and finance experience. Noah most recently served as Program Director of Art Law and Business at Christie’s Education, and previously served as a senior specialist in Chinese Art at both Christie’s and Sotheby’s. In addition, Noah held roles on the private banking side at both Merrill Lynch and US Trust. Noah holds an MBA in Finance from NYU Stern School of Business and a Master’s in Political Economy from Columbia University.

Maureen joined Athena Art Finance as a Senior Investment Associate in 2021. Prior to joining Athena, Maureen was an Associate at Jefferies Credit Partners, a private credit alternatives group within Jefferies, focusing specifically on the Direct Lending strategy. While at JCP, Maureen took an active role in the underwriting and portfolio management processes, providing financing solutions for private equity backed transactions across all sectors. Maureen graduated from the University of Notre Dame with a B.B.A. in Finance and a second major in Anthropology.

Contact us

Noah Kupferman

Director, Head of Business Development
nkupferman@athena-art.com

Cynthia Sachs

CEO & Chief Investment Officer
csachs@athena-art.com