UCCA Acquired by Chinese Investors, Director Philip Tinari to Continue Leading Beijing Art Program

A consortium of investors from mainland China has acquired the Ullens Centre for Contemporary Art (UCCA) after it was listed for sale for more than a year, although the sale price remains confidential. The group includes Jerry Mao, a partner at Lunar Capital, an equity firm based in Shanghai, as well as an educational enterprise named Future Edutainment and Jason Jiang, the founder of Focus Media. Philip Tinari will continue to oversee the art program at the center, located in Beijing's 798 Art District, under a non-profit, tax-exempt foundation framework. This foundation, which is registered in Hong Kong and is pending approval for its Beijing registration, aims to attract donor support and foster independence from the new owners. The foundation's board of directors has yet to be revealed.