SkyBridge Capital has completed its acquisition of the fund of hedge funds, hedge fund seeding and hedge fund advisory businesses from Citi Alternative Investments.
The deal positions SkyBridge as an alternative asset manager with a total of USD7.4bn in assets under management and advisory. 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 Citi Alternative Investments 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,” says Anthony Scaramucci (pictured), 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, a New York-based advisory firm, acted as the exclusive financial advisor to SkyBridge on the acquisition.
