Magasin 3

Proventus’ mindset has provided the creative freedom to make new approaches to culture possible, and to allow audiences to experience challenging new work in ways that could not be done elsewhere.

David Neuman, the internationally respected curator, first proposed a new model for a visual arts institution to Robert Weil more than 2o years ago. Neither a museum nor a conventional gallery, the plan was to operate as a kind of arts laboratory, commissioning artists to create special pieces for exhibition, and then to acquire a selection of them.

For 2o years, we have maintained Magasin 3, a unique space in a recycled warehouse in Stockholm’s harbour under Neuman’s leadership. It's a handsome, unpretentious and robust space that has hosted many of the world’s leading contemporary artists, from James Turrell, to Mona Hatoum. It has created an important node in an international network of art spaces that are at the leading edge of contemporary art practice. The programme has been the basis for the formation of an art collection which now includes more than 6oo art works, supported by a serious cataloguing and publishing programme. These are not trophy pieces, or the starting point for a monumental museum, but represent a genuine engagement of curators, artists and Proventus as a company that offers artists a rare chance to undertake original research. We see the Magasin 3 programme as a chance to learn from the creativity of art in the broadest sense. It stands for values that last longer than considerations of short-term revenue. By involving ourselves with challenging definitions of art, we are acknowledging that, as an investment organisation, we cannot operate in a cultural vacuum.

Proventus’ cultural activities are a demonstration of our commitment to looking beyond the short-term. To Proventus none of these projects is about philanthropy or sponsorship in the narrow financial sense. They are about learning and a clear exchange between both parties to the partnership, and a demonstration of our values and our continual search for creative innovation.

Proventus’ cultural/research activities are a demonstration of our commitment to looking beyond the short-term. To Proventus none of these projects is about philanthropy or sponsorship in the narrow financial sense. They are about learning and a clear exchange between both parties to the partnership, and a demonstration of our values and our continual search for creative innovation.