|Headquarters||527 Madison Avenue|
New York City, United States
|Total assets||$12.5 billion|
SkyBridge Capital is a global investment firm based in New York City, United States. It is run by chief investment officer Ray Nolte. Founder Anthony Scaramucci had co-managed the firm until January 17, 2017, when sale of the firm was announced.
SkyBridge Capital was founded in 2005 with a focus on hedge fund seeding. Anthony Scaramucci was previously the co-founder of Oscar Capital Management, which was sold to Neuberger Berman in 2001. Upon Neuberger Berman's sale to Lehman Brothers in 2003, Scaramucci served as managing director in their Investment Management division. Scaramucci also served as a vice president in Goldman Sachs Private Wealth Management group.
In May 2008, SkyBridge formed a strategic partnership with Challenger Financial Services Group Limited, forming the first global institutional emerging manager seeding platform. Additionally, Challenger supports SkyBridge in the Australasia region to source new capital and managers. In April 2010, the firm announced it opened an office in Zürich, Switzerland.
In June 2010, SkyBridge acquired Citigroup Alternative Investments Hedge Fund Management Group and Ray Nolte, joined as co-managing partner and chief investment officer. Nolte was previously the chief executive officer and chief investment officer of the Citigroup Alternative Investments Hedge Fund Management Group. Earlier, he held positions at Deutsche Bank and Bankers Trust Company. Sadis & Goldberg advised on this transaction. With this acquisition, SkyBridge’s focus changed from seeder to integrated asset manager with a dual fund of funds/seeding model.
On July 9, 2013, SkyBridge Capital formed a strategic partnership with Seoul-based Woori Investment & Securities to distribute SkyBridge's hedge funds-of-funds products in Korea and other parts of Asia.
In May 2014, SkyBridge acquired the rights to Wall Street Week, an investment news show that debuted in 1970. The company is reintroducing the show with CNBC's Susan Krakower and Raymond Borelli overseeing its development with Scaramucci as the host. In March 2015, the company opened its third office in Palm Beach Gardens, Florida. The company is also the title sponsor of West Palm Beach's inaugural bike share program, SkyBike.
On January 17, 2017, SkyBridge announced that it had signed a definitive purchase agreement with RON Transatlantic and HNA Capital U.S., with the firm continuing to be led by its current senior management team. Its full investment team will remain intact, though founder Scaramucci will step down immediately from his co-managing partnership and no longer maintain affiliation with the firm or the SALT conference. George Hornig, CEO of RON Transatlantic, was announced as joining the SkyBridge board. The transaction had been expected to complete in the second quarter of 2017.
On April 30, 2018, HNA and SkyBridge issued a joint statement the two sides had agreed not to pursue the deal, but would still work together to try to sell SkyBridge’s offerings to Chinese investors. The Committee on Foreign Investment in the United States had yet to approve HNA’s purchase. The statement said that the committee had offered the two sides "a path to approval" if they made certain changes, but that neither side believed it was in its best interest to continue, though would still work together to try to sell SkyBridge’s offerings to Chinese investors.
SkyBridge Capital hosts a large investment conference, known as the SkyBridge Alternatives (SALT) conference, biannually in the U.S. and Asia. The first SALT conference was held in May 2009 in Las Vegas, Nevada and convened 500 asset managers, investors and other industry thought leaders. The flagship conference has grown to include participation by over 1,800 thought decision makers, industry experts, finance professionals and members of the alternative investment community. SALT's mission has been described as being committed to facilitating balanced discussions and debates on macro-economic trends, geo-political events and alternative investment opportunities within the context of a dynamic global economy.
Featured speakers have included Joe Biden, Bill Ackman, John O. Brennan, David Cameron, Eric Schmidt, Mike Tyson, Donna Brazile, Ehud Barak, Tony Blair, Gordon Brown, George W. Bush, Bill Clinton, Izzy Englander, Timothy Geithner, Al Gore, Ken Griffin, Valerie Jarrett, Lim Hng Kiang, Kenneth Langone, Jin Liqun, Dan Loeb, Michael Milken, Al Pacino, Leon Panetta, David H. Petraeus, John Paulson, Colin Powell, Wolfgang Puck, Mitt Romney, Don Brownstein, David M. Rubenstein, Nicolas Sarkozy, Paul Singer, Tharman Shanmugaratnam, Oliver Stone, Lawrence H. Summers, David Tepper and Jean Claude Trichet. SALT Asia was first held in October 2012, at the Marina Bay Sands in Singapore. It was held again with 1,000 participants at the Marina Bay Sands September 24–27, 2013.
Following its May 16–19, 2017 events in Las Vegas, the SALT Conference was to become a standalone entity. After the sale of SkyBridge to HNA did not proceed, SALT remained part of SkyBridge Capital.
SkyBridge has offices in the following locations:
Hedge Funds Review Americas Awards:
- Named Best Diversified Fund of Hedge Funds – over 10 years (Legion Strategies) in 2014.
- Named "Fund of Hedge Fund of the Year," and "Best Diversified Fund of Hedge Funds Over One Year" in 2013.
- Named "2012 Best Diversified FoHF Over Three Years" in 2012.
HFMWeek's US Performance Awards:
- Named "Fund of Hedge Funds 40 Act-Compliant Strategy" in 2013.
- Named "Fund of Hedge Funds Multi-Strategy Over $1B" category in 2012 and 2011.
- Named Fund of the Year – 5 years and Global Multi-Strategy >$1bn, 5 year track record (SkyBridge Multi-Adviser Hedge Fund Portfolios – Series G) in 2014.
- Named Absolute FofHF (Fund of the Year) - Legion, Best Global Multi-Strategy $500–$1Bn - 5 Years (Legion), Best Global Multi-Strategy >$1Bn - 5 Years (Series-G), and 10 Year Award $1Bn (Series-G) in 2013.
- Named Global Multi-Strategy >$1BN" category for 2012.
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