Pace Acquires LA’s Kayne Griffin, Bolstering the Mega-Gallery’s Presence on the West Coast and Continuing a Wave of Art Market Consolidation

Pace, one of the largest international galleries, has acquired Los Angeles-based Kayne Griffin Gallery in the latest sign of growing consolidation in the art market.

The move, announced on Wednesday, will create a ready-to-use Los Angeles base for Pace, which is headquartered in New York and operates galleries in London, Hong Kong, Seoul, Geneva and, on the west coast, in the capital. technology from Palo Alto. Bill Griffin and Maggie Kayne, founders and partners of Kayne Griffin, will become managing partners at Pace.

A Pace spokeswoman declined to comment on the value of the deal.

The news follows another big merger, between Salon 94, Lévy Gorvy, and private dealer Amalia Dayan, who formed the LGDR entity last year. The Los Angeles art scene has exploded in recent years. Among top-notch galleries, Gagosian has been a force there for decades; more recently, New York galleries and international dealerships, including Hauser & Wirth and Sprüth Magers, have opened ambitious outposts there.

Kayne Griffin’s 15,000 square foot space on South La Brea Avenue, which was designed by artist James Turrell, will operate under the Pace brand from April, the galleries said.

Kayne Griffin’s list includes artists such as Turrell, Mary Corse, filmmaker/painter David Lynch, Sarah Crowner, Sam Moyer and Hank Willis Thomas. Some artists formerly represented by Kayne Griffin will still be exhibited in the new gallery, and some will additionally be added to Pace’s international schedule, according to a Pace spokeswoman.

“Los Angeles has always been a magnet for artists, and its position as a world-class center for contemporary art has grown stronger,” said Pace President and CEO Marc Glimcher. “As we considered the most thoughtful way to be part of the city’s cultural offerings, our path cleared.”

The galleries share several artists, including Turrell and Corse. Both have also done projects with Robert Irwin, who has been represented by Pace for decades.

“With the relationship Pace already had with Kayne Griffin’s most important artists, it makes a lot of sense,” Stavros Merjos, a private art dealer in Los Angeles, said of the merger.

This isn’t the first time Pace has been to the City of Angels. From 1995 to 2000 the gallery had a space on Wilshire Boulevard under PaceWildenstein.

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