SkyBridge Completes Acquisition of Citi’s FoHFs, Hedge Fund Seeding and Advisory Businesses
Thursday, July 1, 2010 : Permalink
New York (HedgeCo.net) – $7.4 billion global alternative investment firm, SkyBridge Capital (SkyBridge) 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 hedge fund manager now offers investment services across Commingled Funds of Funds Products; Custom Portfolios; Hedge Fund Seeding and Hedge Fund Advisory Services. Terms of the transaction were not disclosed.
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.”
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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