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SkyBridge Capital sells majority stake with Anthony Scaramucci to step down immediately

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The majority of global alternative firm SkyBridge Capital has been sold to  RON Transatlantic EG and HNA Capital. Financial terms of the transaction have not been disclosed but at the end of November SkyBridge managed or advised on USD12 billion.

SkyBridge also hosts the SALT Conference which will be spun out as a standalone entity with this year’s event scheduled for May in Las Vegas.

The announcement states that SkyBridge will continue to be led by its current senior management team and its full investment team will remain intact.  However, SkyBridge founder, Anthony Scaramucci (pictured) – who has been appointed as an adviser to US President-elect Donald Trump – will step down from his role as co-managing partner and will no longer be affiliated with SkyBridge or SALT, effective immediately.

"It has been an honour and privilege to help build SkyBridge and work alongside some of the most talented individuals in the asset management industry who day in and day out demonstrate an unrelenting passion and commitment to helping our clients fulfil their long-term financial goals," says Anthony Scaramucci.  "While I am moving on to a new chapter in my career, I am truly excited about what the future holds for SkyBridge and the opportunities that RON Transatlantic and HNA Capital US will bring to serving the firm's clients. SkyBridge and SALT are in great hands and will continue to thrive."

George Hornig, CEO of RON Transatlantic Financial Holdings, and former Chief Operating Officer of Credit Suisse Asset Management and PineBridge Investments, will be joining the board of SkyBridge to work with its senior management on initiatives to grow SkyBridge's product offerings and distribution platforms. "We are very excited for the opportunity to continue to expand the business that Anthony and his team have created and built," sasaysid Hornig.  "Now, together with the world-class resources and networks of HNA and Transatlantic, we feel the "sky" is the limit for how far we can take SkyBridge.”  

"SkyBridge is a unique and innovative investment platform with a powerful brand that is well positioned to provide retail investors and their financial advisors with one-stop access to sophisticated alternative investment products," says Guang Yang, CEO of HNA Capital U.S.  "Our investment in SkyBridge is an important step in HNA Capital's strategy to build a global asset management business.  We look forward to working with the world-class management team of SkyBridge and our partners at RON Transatlantic to accelerate SkyBridge's long-term growth and development.” 

Seward & Kissel LLP represented HNA Capital (US) Holding in connection with this deal.
 

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