WME/IMG and Frieze, an arts, media and event company, have forged a strategic partnership.
The two organizations will work together to expand the resources and expertise available to Frieze’s clients through events, media and technology.
As part of the agreement, WME/IMG will support the Frieze Tate Fund, the first acquisition fund connected to an art fair. Since 2003, the fund has enabled Tate to purchase 100 works by 69 artists for the Tate Collection. The Frieze Tate Fund will provide $212,255 at the current exchange for Tate to acquire works of art at Frieze London this October.
Tate director Sir Nicholas Serota said, “The Frieze Tate Fund has played a fundamental role in helping Tate build a strong collection of emerging art at an international level.”
The Frieze partnership follows SoftBank Group’s recent $250 million investment in WME/IMG, joining Silver Lake Partners in helping to accelerate the firm’s global growth strategy which includes new acquisitions, partnerships and joint ventures.
Frieze was founded in 1991 by Amanda Sharp, Matthew Slotover and Tom Gidley with the launch of Frieze magazine. In 2003, Sharp and Slotover established Frieze London, a contemporary art fair which takes place each October in The Regent’s Park in London. In 2012, Frieze launched Frieze New York that takes place in May, and Frieze Masters, which coincides with Frieze London in October and focuses on art from ancient to modern.