The Louvre to Set Up American-Style Endowment
January 20, 2009
The Louvre, the venerable Paris art museum, is starting an American-style endowment next month, seeded with $230-million it received to set up a satellite museum in Abu Dhabi, according to Bloomberg.com
Eighteen banks are competing to manage the fund. The Louvre, which is the first such organization in France to start an endowment, expects to receive $323-million more from Abu Dhabi by 2027.
