New York’s Metropolitan Museum of Art is getting a collection of art that it says will “transform” the museum.
The museum announced Tuesday that cosmetic executive and philanthropist Leonard Lauder has pledged his renowned collection of Cubist works to the institution.
The collection of 78 works valued at over $1 billion includes pieces from Pablo Picasso, Georges Braque, Juan Gris and Fernand Leger and is considered one of the most pre-eminent Cubism collections in the world.
Museum Director Thomas Campbell said the gift is “truly transformational” and will fill in a critical area in the museum’s collection.
The collection is expected to be presented in an exhibition opening in the fall of 2014.
The museum said a new research center for modern art would also be created at the museum.