Billionaire collector Budi Tek announced an unprecedented partnership between the Yuz Museum and LACMA.
The art collector announced what he calls the “marriage” of his Shanghai-based Yuz Museum and the Los Angeles County Museum of Art (LACMA) during a panel discussion at an event hosted by Sotheby’s during Art Basel in Hong Kong. Tek, who is ill with pancreatic cancer, decided the best way to preserve his legacy is to keep his works together as one collection and pair up with LACMA, which can give the art a home with global connections beyond the Yuz Museum’s reach. The partnering institutions will collaborate on exhibitions, and Wu Hung, a Chicago-based art historian, will be a consulting artistic director. “We’re going to connect collections, we’re going to come up with programs that don’t exist anywhere else,” he told ARTnews. This merger is a major win for LACMA, too, whose collection currently has a deficit of Chinese contemporary art. The first exhibition is set for 2019, but the institution that will host it has yet to be announced.