Bankrupt Hedge Fund Founder Weiss Offers More Art to Repay Loan

Bankrupt hedge fund founder George Weiss is preparing to sell another piece of his vast art collection, offering to part with a self-portrait of painter Francis Bacon after earlier agreeing to market works from Paul Signac and Pablo Picasso.

Weiss is seeking permission from a Florida bankruptcy judge to market Bacon’s 1972 oil-on-canvas through an existing consignment deal with fine art gallery Gagosian Gallery Inc., according to papers his lawyers filed Wednesday. In March, a different Bacon self-portrait dated 1972 sold at a Sotheby’s auction for about £16 million ($21 million), including fees.

George Weiss.

Photographer: Jared Siskin/Patrick McMullan/Getty Images

Weiss and his ...