SkyBridge Capital Completes Acquisition of Citi’s Fund of Hedge Funds, Hedge Fund Seeding and Hedge Fund Advisory Businesses

Deal Positions Firm as a Leading Global Alternative Asset Manager with $7.4 Billion in Assets Under Management and Advisory

NEW YORK--(BUSINESS WIRE)-- SkyBridge Capital (SkyBridge) today announced it has completed its acquisition of the fund of hedge funds, hedge fund seeding and hedge fund advisory businesses from Citi Alternative Investments LLC (CAI). The deal positions SkyBridge as one of the leading global alternative asset managers with a total of $7.4 billion in assets under management and advisory and solidifies the firm as a global leader in hedge fund incubation. Terms of the transaction were not disclosed.

With completion of this transaction, SkyBridge now offers investment services across four business lines addressing every type of market participant from individual retail investors to large institutions. These business lines are: Commingled Funds of Funds Products; Custom Portfolios; Hedge Fund Seeding and Hedge Fund Advisory Services. Raymond Nolte, who has led the hedge fund group at CAI since 2005, joins SkyBridge as a managing partner and chief investment officer. He brings with him a team of more than 20 professionals.

“We are excited to announce completion of this deal and to welcome the new team members to SkyBridge,” said Anthony Scaramucci, founder of SkyBridge Capital. “Our comprehensive suite of investment offerings, backed by an experienced, hands-on global team and thoughtful and thorough approach to risk management, offers great opportunity to a diverse set of investors.”

James Greenberg, founder of Sandton Partners, LLC, a New York-based advisory firm, acted as the exclusive financial advisor to SkyBridge on the acquisition. "The combined SkyBridge/Citi Alternative Investments business led by Scaramucci, Prince and Nolte, is uniquely positioned to serve as one of the most scalable global alternative platforms."

About SkyBridge Capital

Founded in 2005, SkyBridge Capital (SkyBridge) is a leading global alternative investment firm with a total of $7.4 billion in assets under management and advisory. The firm provides investment management products, portfolio management and advisory services addressing every type of market participant, including Sovereign Wealth Funds, Public and Private Pension Funds, Insurance Companies, Wealth Advisors, Family Offices, Fund of Funds, High Net Worth Individuals and Retail Investors. SkyBridge offers investment services across four business lines: Commingled Funds of Funds Products, Custom Portfolios, Hedge Fund Seeding and Hedge Fund Advisory Services.

For more information, visit www.skybridgecapital.com.

Media:
CJP Communications
Suzanne Hallberg, 212-279-3115 ext. 213
[email protected]
or
CJP Communications
Kate McGann, 212-279-3115 ext 249
[email protected]
or
Investors:
SkyBridge Capital
Victor Oviedo, 212-485-3118
[email protected]

Source: SkyBridge Capital