The Los Angeles County Museum of Art has announced the acquisition of one of the 20th century’s largest private collections of Oceanic art. Featuring a significant number of works from Polynesia and Melanesia, the collection also boasts Micronesian and Australian objects.

A $5-million challenge grant from the Eli and Edythe Broad Foundation helped fund the acquisition of 46 historic pieces, including an Easter Islands dance paddle and a Hawaiian drum collected in 1778 by Captain James Cook.

The museum in its Tuesday announcement did not disclose what it paid for the collection, but said the Broad grant was a 50 percent match for the fundraising campaign.

The grant was matched by several LACMA trustees, including Majestic Realty Chief Executive Ed Roski and his wife Gayle; investor and former technology entrepreneur David Bohnett, former Yahoo! Inc. chairman Terry Semel and his wife Jane; Camilla Chandler Frost, an officer with Pasadena-based Chandis Securities Co.; plus the Ahmanson Foundation

The works were purchased from the Masco Corporation Foundation. Masco is publicly held Taylor, Mich.-based manufacturer of kitchen and bath cabinetry whose executive chairman is Richard Manoogian, son of the company’s founder. The collection will be on view at LACMA in February 2009.