SkyBridge Capital, which provides strategic capital to new and early-stage hedge funds, has invested in U Capital Group, a global special situations value investment partnership, from its SkyBridge Capital Partners and SkyBridge Capital (Cayman) funds.

In addition to providing U Capital's investment team with capital, SkyBridge Capital will seek to enhance its investment in the hedge fund manager by providing business-building support.

U Capital Group is headed by managing partner and risk management head Jonathan Urfrig, who was most recently a portfolio manager at Third Point, where he worked from 2002 to 2006. Urfrig previously worked in private equity at Texas Pacific Group, and in merchant and investment banking at Donaldson, Lufkin & Jenrette.

'The U Capital team possesses a strong public market and private equity investment background, and we look forward to working together in partnership to build the business,' says SkyBridge Capital managing partner Anthony Scaramucci. 'U Capital is the eighth and final manager to be seeded out of our funds.'

Urfrig adds: 'We look forward to our partnership with our new strategic investor, SkyBridge Capital, and benefiting from its business-building and investment-support capabilities.'

New York-based SkyBridge Capital's team of experienced professionals co-ordinates a global network of partners in sourcing talented hedge fund managers. The firm has a strategic relationship with MSD Capital, a private investment firm that manages the capital of computer magnate Michael Dell and his family. SkyBridge and its underlying managers currently have approximately USD1.2bn under management.

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