SkyBridge Capital
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| Private | |
| Industry | Investment Management |
| Founded | 2005 |
| Headquarters | 527 Madison Avenue New York City, United States |
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Key people
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Anthony Scaramucci Raymond Nolte |
| Total assets | $12.5 billion |
| Website | www.skybridgecapital.com |
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 has produced the SkyBridge Alternatives (SALT) conference, to become a standalone entity following its May 2017 events.
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 is expected to be complete in the second quarter of 2017.
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