Hedge Funds

Galai launches pension plan for artists

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Thanks to hedge fund manager Dan Galai of Sigma Management, the image of the starving artist may become a thing of the past. Galai and a group of other investors recently created a new company called MutualArt that aims to serve as a kind of pension plan for visual artists. Galai teamed up on the project with the help of David Ross, former curator of New York's Whitney Museum and San Francisco's Museum of Modern Art. The project itself is a brainchild of Moti Shniberg, an Israeli private investor.

Galai and fellow investors have already pumped $2 million into