Fuhrman Family Office, LionTree Invest in Art Market Newsletter

(Bloomberg) -- Glenn Fuhrman’s family office, Virtru Investment Partners, and LionTree Partners acquired a minority stake in the Baer Faxt, an art industry newsletter.

Josh Baer, an art dealer and adviser who started the publication in 1994 by sending news out by fax, declined to discuss terms, but described the investment as “significant.” A mix of personnel and market items, the newsletter costs $300 a year and counts billionaire collectors and mega-dealers among subscribers.

LionTree, which was involved in last year’s sale of Sotheby’s to billionaire Patrick Drahi, approached Baer in May about acquiring a stake. Fuhrman, who helped found Michael Dell’s family office, left last year to start Virtru, which focuses on technology companies, traditional private equity and real estate.

“Josh has demonstrated an ability to attract and grow a global group of subscribers,” Fuhrman, who’s been a subscriber for 15 years, said Monday in statement. The investment will allow the newsletter “to expand into new channels and pursue other growth opportunities that will further broaden its reach,” he said.

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