A Pablo Picasso painting has been bought by a hedge fund manager for a record $155m (£102m) - making it the most expensive of the Spanish artist's works.
Steve A Cohen, who runs $15bn (£10bn) hedge fund firm SAC Capital Advisors, bought the oil painting of Picasso's mistress Marie-Therese Walter, titled Le Reve, from casino mogul Steve Wynn, The New York Post reported.
Mr Cohen and Mr Wynn, who are both billionaires and well-known art collectors, have a history with this particular Picasso painting.
Picasso's Nude, Green Leaves and Bust sold for $106.5m in 2010 In 2006, Mr Wynn put his elbow through the canvas while showing it to several friends, reportedly a day after agreeing to sell it to Mr Cohen for $139m (£92m).
The portrait is said to have been completed in one afternoon in 1932 when Picasso was 50-years-old.
The price tag is thought to make it the most expensive Picasso ever, according to reports.
It is the third of the artist's works to sell for more than $100m. Nude, Green Leaves and Bust sold for $106.5m in 2010 and Garcon a la Pipe for $104.2m in 2004.
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