Swiss financial services group REYL Group has joined forces with art advisory business LINK Management to launch Griffin Art Partners, a Luxembourg-based securitisation platform focused on art lending.
Griffin will offer one to three year against artwork for a minimum amount of €1m and in exchange a borrower will be required to store the artwork with a third party depository or a free port.
Artwork covered by the platform may range from old masters to contemporary art and need to comply with strict eligibility criteria, REYL said.
The platform will be available in several jurisdictions including Switzerland, Luxembourg and the UK.
REYL Private Office (Luxembourg) will be responsible for managing the platform and will serve as the bondholder representative.
LINK Management director Aymeric Thuault said: “Griffin Art Partners endeavors to become one of the leading independent art lenders in Europe by offering a competitive and flexible non-recourse financing solution for art professionals and collectors.”