Artfest International, Inc (fka ARTS)

[EDWARD STEVENSON]

Have a glance at this article. Artfest International certainly fits among the characteristics of the companies that this fund is focusing on. Their development and progression is attracting numerous private investors that have helped them raise nessesary operating capital.

Can Artfest Internation, Inc. potentially become IndexAtlas' next target?

Private Equity Fund to Focus on Businesses Serving the Art Industry

NEW YORK--(Business Wire)-- IndexAtlas has announced the formation of the Art Industry Fund, a multi-million dollar private equity fund that will invest exclusively in businesses serving the art industry. Auction houses, advisory services, financial and security firms as well as software and media
companies are among those being considered for inclusion. The fund will not invest in art assets.

The IndexAtlas Art Industry Fund will begin investing an initial fund of $50 million on June 1, 2008 and is anticipated at being fully invested no later than December 31, 2009. The average investment will be in a range of $3 to $8 million and is expected to last four years.

According to IndexAtlas Group's founder and CEO Sergey
Skaterschikov, the fund aims to generate an annualized IRR in excess of 35%. The fund has no geographic limitations, though a strong preference for companies with operational headquarters in the United States prevails. Skaterschikov will serve as investment manager and will run the fund management team of five investment and research professionals based in New York.

"The fund's primary objectives are to bring increased transparency to art investing and to support development and expansion of lasting institutions that will serve the art world and the greater alternative investment market as a whole," said Skaterschikov. "We seek to attain that mission in challenging art market environment by actively adding value in the boards of our portfolio companies and adhering to the ethical and transparency standards of today's mainstream financial markets."

A 35-year old Russian national based in Moscow, Sergey
Skaterschikov is a financier with 15 years of experience in the
investment markets and boards of public and private companies. In 2001 he established IndexAtlas, an investment banking boutique with offices in New York, Moscow and Vienna. IndexAtlas Group is engaged in investment banking, corporate finance and strategy, private equity and alternative investments. Since its inception, IndexAtlas Group has advised on $2.4bn in M&A, IPO, private equity and debt transactions. As of 31 March 2008, it had over $0.4bn in private equity funds under management and fully invested.

In 2007, Sergey Skaterschikov's first book, "Skate's Art
Investment Handbook," was published in Russia and the U.S. Directed at private and institutional investors in art starting from $1 million in allocation to art assets, the study remains the most current comprehensive guide to art investing. It drew upon data found in Skate's Art Investor's Service, an IndexAtlas Group member company that provides high net worth individuals, private wealth managers and institutional investors with unbiased investment research on the world's most valuable art.

"The IndexAtlas Art Industry Fund is an application of the driving principals expressed in "Skate's Art Investment Handbook," said Skaterschikov. "I encourage anyone interested in the Fund to read it."

http://www.reuters.com/article/pressRelease/idUS152185+16-Apr-2008+BW20080416