Delfina Entrecanales, a Spanish arts patron who played a crucial role in the rise of young British artists in the late 1980s, has died at the age of 94.
Her death was confirmed by her London non-profit the Delfina Foundation on Friday. No cause of death was given.
“Delfina Entrecanales was a trailblazer in arts patronage,” the foundation said. “Always unafraid of eschewing conventions, she was known for her relentless energy, immense generosity, no-nonsense approach and dry sense of humour.”
Entrecanales supported nearly 1,000 artists and arts practitioners in developing their work through her two eponymous initiatives, The Delfina Studio Trust and its successor, the Delfina Foundation.
“Guided by her own principles and strong conviction of ‘no strings attached’ support, she sought solely to offer artists the time and space they required to explore new ideas and develop existing projects,” the foundation said. “Her support … has had an immeasurable impact on the contemporary arts and those who produce them, in London, the UK and internationally.”
Entrecanales was born in 1927 in Spain to a progressive, affluent family with ties to left-wing political groups. At 19, she moved to England, fleeing Franco’s dictatorship. While staying in Oxford, she met her first husband, a banker, with whom she had four children.
The marriage ended in the 1970s, after which Entrecanales decided to stay in England to become a socialite and arts patron. She bought a farm with several cottages in Wiltshire, offering musicians accommodation and a place to work.
She married her second husband, Digby Squires, in 1973. The couple were together for three decades and established the Delfina Studio Trust in 1988. Artists supported by the trust included Glenn Brown, Jane and Louise Wilson, Tomoko Takahashi, Thomas Demand and Tacita Dean. Some of artists supported by the fund became winners or finalists in prestigious arts awards, including the Turner Prize.
In recognition to her contribution to the arts, Entrecanales was made a Commander of the Order of the British Empire in 2012. A year later, she received the Prince of Wales Medal for Philanthropy in the Arts.
May her legacy continue to live on
Art Dubai
Art institutions and artists from around the world have posted tributes to Entrecanales online.
“Sad news from the art world: Delfina Entrecanales has died,” British journalist and author Josh Spero wrote on Twitter. “She supported hundreds of the most innovative, forward-thinking artists with the Delfina Foundation in London.”
Organisers of Art Dubai also posted a tribute to Entrecanales on the annual event's Instagram page. “May her legacy continue to live on,” they wrote.
Emirati artist Khalid Mezaina recalled, in a tweet, his meeting the arts patron in London in 2011. He posted a picture showing Entrecanales flipping through his sketchbook, as well as a sketch of the patron based on the photograph.
“Rest In Peace Delfina Entrecanales,” he wrote. “Thank you for seeing an artist in me.”
Killing of Qassem Suleimani
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Zayed Sustainability Prize
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
if you go
The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.
The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
