It also encompasses works pertaining to the steadily increasing global art community. Presently the collection is orientated towards the young American art scene. There has been an interest in German Abstract Expressionism, English modern painting, and the Young British Artists. The museum collection was originally based on a private collection that goes back thirty years, and has significantly developed with the many changes in modern/contemporary art. The permanent collection consists of works of Norwegian and International Contemporary Art.
The museum created a stir in the international art world in 2002 when it purchased the American artist Jeff Koons's monumental sculpture in gilt porcelain of the pop star Michael Jackson with Bubbles, his favorite chimpanzee, for US$5.1 million. The Heddy and Nils Astrup Foundation was named for Nils Ebbessøn Astrup, who was a maternal grandson of Thomas Fearnley (1841–1927). The Thomas Fearnley Foundation was established by shipping magnate Thomas Fearnley (1880–1961) in 1939 he was the son of shipping magnate Thomas Fearnley (1841–1927) and grandson of romantic painter Thomas Fearnley. The two foundations merged in 1995 to become the Thomas Fearnley, Heddy and Nils Astrup Foundation. The museum opened in 1993, and was funded by two philanthropic foundations established by descendants of the Fearnley shipping family, the Thomas Fearnley Foundation and the Heddy and Nils Astrup Foundation. Astrup Fearnley Museum of Modern Art collaborates with international institutions, and produces exhibitions that travels worldwide. The museum gives 6-7 temporary exhibitions each year. The collection's main focus is the American appropriation artists from the 1980s, but it is currently developing towards the international contemporary art scene, with artists like Jeff Koons, Richard Prince, Cindy Sherman, Matthew Barney, Tom Sachs, Doug Aitken, Olafur Eliasson and Cai Guo-Qiang. It was founded and opened to the public in 1993. The Astrup Fearnley Museum of Modern Art is a privately owned contemporary art gallery in Oslo in Norway.
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