LinkedIn Twitter Facebook Share
ARTFA, The Art Fund Association
artfa Partners ARTFA Partners
artfa Sponsors ARTFA Sponsors
Who We Are

Home » Who We Are

Board of Directors

The role of the Board of Directors is to determine the scope and character of the activities and operations of The Art Fund Association (“Art FA”), to approve and amend the annual financial budget and business plan, to approve the financial statements and auditor's reports, to amend any constitutive documents of Art FA, and to authorize acts of Art FA and/or its officers outside of the ordinary course of operations. Each Director is elected to serve for two-year terms.

The Board of Directors consists of the following individuals:

Javier Lumbreras, Chair
Enrique E. Liberman
Stanislas Gokelaere
Heitor Reis
Michael Sellinger
Michael Shvo
Evan Tawil


Javier Lumbreras. Mr. Lumbreras serves as Chair of the Board of Directors of Art FA, bringing his extensive experience as an accomplished fifth generation art collector and successful art fund manager to Art FA. Mr. Lumbreras is the founder and Chief Executive Officer of the Artemundi Global Fund, a diversified art investment fund with a strategic art investment portfolio covering half a millennium of universally recognized artists with consistent records of price appreciation. In addition to his position at the Artemundi Global Fund, Mr. Lumbreras is a respected consultant to private collectors, a sought after guest lecturer regarding the art market to banks, family offices and museums and a trustee to various international art institutions. He is the author of the book, The Art of Collecting Art, which has sold out of its first edition; a second edition is being reproduced by Banco Nacional de Mexico, CITIBank.
» back to top

Enrique E. Liberman. As one of the founding members of Art FA, Mr. Liberman serves on Art FA's Board and has acted in the role of President of Art FA since 2010. Mr. Liberman has extensive experience in the formation and governance of art investment funds and art funds of funds and regularly counsels art fund managers and investors on legal matters ranging from the structuring of such funds to the various regulatory and compliance issues arising from their operation. Mr. Liberman is currently a Partner at Bowles Liberman & Newman LLP in New York City where he chairs the law firm’s Art Law + Art Funds practice group which represents prominent art market professionals and participants in a wide variety of art-related matters. Prior to his tenure at Bowles Liberman & Newman LLP, Mr. Liberman was a Partner at Tannenbaum Helpern Syracuse & Hirschtritt LLP, Vice-President & General Counsel of Egyptinfo Technology S.A.E., a prominent Egyptian information technology company, and a corporate associate at Clifford Chance Rogers & Wells LLP. Mr. Liberman attended Harvard Law School in Cambridge, Massachusetts, USA where he received his Juris Doctor in 1999. His degree at Harvard Law School was preceded by his attainment of a Bachelor of Arts in International Relations with Honors and Distinction from Stanford University in Stanford, California, USA in 1996. Mr. Liberman is certified in Credit Risks and Financial Calculus by the Association of Banks of the Republic of Argentina. Mr. Liberman is a member of the New York State Bar Association and chairs its Committee on Art Law, Art Funds and Art Investment.
» back to top

Stanislas Gokelaere. Mr. Gokelaere serves on the Board of Directors of Art FA, bringing his extensive experience in Fine Art investment and asset management. He is the founder and Chief Executive Officer of the Art Collection Fund, a Luxembourg closed-end investment fund whose objective is to build an exceptional quality collection of Modern and Contemporary Art and Tribal Art from Africa and Oceania. Stanislas Gokelaere is an art lover and dedicated collector, coming from a family of modern art dealers. With over 15 years of experience in Fine Art investment, he has built a reputation as a rigorous and successful collector and investor. His primary fields of interest are Tribal Art, Modern and Contemporary paintings, and 20th century design pieces. Prior to founding the Art Collection Fund, Mr. Gokelaere started his career as a chartered accountant with leading firm Ernst & Young. He was a financial consultant with Coopers & Lybrand. He then went on to have a successful career in investment banking and asset management. He led the Mergers & Acquisitions team of a Fortune 500 international company. Most recently, he managed a large investment fund active in international real estate development. Mr. Gokelaere has a master degree in Business Administration from Solvay Business School (Belgium).
» back to top

Heitor Reis. Heitor Reis is a founding partner and manager of BGA (Brazil Golden Art) fund. He has over 25 years of experience in the Brazilian art market having occupied several important positions. From 1983 to 1987, Mr. Reis served as coordinator and director of the state-run organization Museus do Estado da Bahia (Museums of the State of Bahia), and between 1991 and 2007 he held the same posts at the Museum of Modern Art of Bahia (MAM-Bahia). He sits on the board of the Museum of Modern Art of Rio de Janeiro (MAM-Rio), as well as being a member of AICA - Associação Internacional de Críticos de Arte (International Association of Art Critics). Mr. Reis has organized and curated multiple exhibitions, biennales and residency programs in Brazil and abroad. During his tenure at MAM-Bahia he established the Salão da Bahia (Bahia Salon) to map out and advance the work of emerging artists from all over the country. Under the auspices of the museum, he edited and published several catalogues and put together an outstanding collection of contemporary Brazilian art. He holds a degree in Museology from Universidade Federal da Bahia (Bahia Federal University). Mr. Reis is also a film director and art collector.
» back to top

Michael Sellinger. Mr. Sellinger serves on the Board of Directors and as the Marketing Director of Art FA. He is the founder of Cottelston Advisors, a full service lifestyle marketing and management consulting company specializing in the visual arts. In addition to advising collectors, Cottelston creates integrated branding opportunities for corporations and provides clients with strategic planning and comprehensive market analyses. Cottelston also regularly produces exhibitions and art fairs. Additionally, Mr. Sellinger has organized and moderated numerous panels on art investment funds. Prior to his tenure at Cottelston Advisors, Mr. Sellinger was the executive producer of Scope Art Fairs, an international series of cutting-edge art and emerging culture exhibitions, where he helped build Scope into an international brand name. Prior to working in the art world, Mr. Sellinger held various positions in banking, real estate and internet marketing. He also serves on the board of the Columbia Alumni Arts League. Mr. Sellinger received an MBA from Columbia Business School and has been collecting contemporary art for over 20 years.
» back to top

Michael Shvo. Michael Shvo is the President and CEO of the SHVO Group of companies, covering the gamut of real estate development and finance, venture capital investments, design and lifestyle marketing, and art acquisitions and divestitures. Mr. Shvo is a recognized leader in the real estate industry, a visionary in the field of global marketing and an accomplished art collector. His various companies have created unparalleled marketing and sales initiatives in real estate, including successful partnerships and ventures with Armani Casa, Philippe Starck, W Hotels, GHM and Aman Resorts. Mr. Shvo is also a highly respected venture capitalist known for identifying early stage commercial enterprises with unrealized intrinsic value and through his expertise in marketing, management and finance, producing significant investment returns for his investment group. Mr. Shvo is a renowned art collector and patron of various emerging artists.
» back to top

Evan Tawil. Mr. Tawil joined Art FA’s Board of Directors in May of 2011 bringing his extensive experience and contacts in the art market to the Association. Mr. Tawil is the principal of 9 Muses Fund Management, LLC, an art fund investment management company that advises art investment funds on acquisitions for, and dispositions of, their art investment portfolios. For over twenty years, Evan Tawil has been a noted Post-War and Contemporary art collector. Mr. Tawil was first chronicled as a collector of serious merit in 1992 at the age of 26 in ARTnews magazine. In 1997, Tawil was chronicled in ARTnews, as one of nine major American collectors under the age of 45. During his acquisition & investment career, Mr. Tawil has developed a disciplined, focused approach to collecting and investing in post-war and contemporary art, viewing the process as a value driven exercise as well as a passion. Mr. Tawil attended and graduated from the Fleming School. He subsequently attended and graduated from Riverdale Country School followed by Vassar College.
» back to top

Industry Chatter

November 13, 2013
Washington Post
Record auction at Christie's
October 11, 2013
France 24
New fronts open in Chinese art market as records fall
October 3, 2013
The Art Newspaper
Art fund industry struggles to emerge from the gloom
October 1, 2013
Art Market News: New York contemporary art sale soars
September 27, 2013
The Malay Mail Online
Do art funds make money and sense?
September 9, 2013
Q&A with Art Fund Association president, Enrique Liberman
September 19, 2013
Al Arabiya News
'Monet talks' as Mideast art investment proves a pretty picture
May 30, 2013
Six Risks to The Global Art Market in 2014
May 20, 2013
'New Era' For Art Markets As Collectors Drop Half a Billion At Christie's Contemporary Sale
February 25, 2013
Wall Street Journal
The Ways Art Investors Blow It
February 8, 2013
Art Market Monitor
Fine Art Fund: 10-yr Art Boom Coming
July/August 2012
ArtAsia Pacific Magazine
Co-Investing in Art: What Every Collector Needs to Know
November 30, 2012
Art Funds Follow Up: Institutional Investors Look Elsewhere
November 26, 2012
Could Fine Art And Collectibles Become A New Asset Class?
November 16, 2012
Investment Art, A Beginner's Guide
January 5, 2012
Looking Ahead 2012: The Hedge Fund Industry Speaks
August 24, 2011
Jing Daily
Wine Fund a 'Great Hope' for Chinese Investors
August 22, 2011
Art Market Monitor
Art has no value until it becomes the target of capital
August 3, 2011
Art Market Monitor
Collectors Fund Launches Second American Investment
April 14, 2011
The Christian Science Monitor
Art Market: Masterful Returns
February 2, 2011
New York Times
'Passion Investments' Capture Hearts in Mideast
January 10, 2011
The New York Times
Can't Afford a Picasso? How About a Piece of One?
January 3, 2011
High-End Art Poses Possibility for Investors
April 14, 2011
The Christian Science Monitor
Art Market: Masterful Returns
February 17, 2011
Art Fund Sell-Off Boosts Peppy Phillips Contemporary Sale
January 26, 2011
The National
Emirates NBD's New Fund Pursues the Art of Making Money
January 10, 2011
DealBook -
Can’t Afford a Picasso? How About a Piece of One?
January 7, 2011
The Wall Street Journal
The Fine Art of Finance
January 3, 2011
High-End Art Poses Possibility for Investors
. . . . . .

Events & Training

Past Events

Silent Auction Fundraiser to Benefit the Childhood Cancer Society
October 29th, 2013
@ De Buck Gallery
New York City
» Learn More

Panel Discussion, "Art & Passion Funds: The New Frontier in Alternative Investments"
Association for Corporate Growth
April 11th, 2013
New York City
» Learn More External Link

Champagne Reception
Art Basel Miami Beach
December 7th, 2012
5:30pm to 8pm
@ The Murano Grande
South Beach, Miami, FL

Panel Discussion, "Art Funds? Is Now The Time?"
March 4th, 2011
@ The Armory Show
New York City
» Read More

Art Funds Give Back
"Masks Around the World"

October 25th, 2010
@ St. Stephen of Hungary School
» Read More

Home | Who We Are | What We Seek | What We Offer | What Are Art Funds | How We Help | How To Join | Press Releases | Contact Us
Antitrust | Copyright | Legal Disclaimer | Legislative Materials | Terms & Conditions | Sponsors
© The Art Fund Association LLC. All Rights Reserved.
design by blukid