SkyBridge Goes Swiss

Apr 26 2010 | 12:09pm ET

Fresh from its deal for three Citigroup hedge fund businesses, SkyBridge Capital is expanding in another way.

The New York-based hedge fund seeder has opened an office in Zurich, Switzerland, and launched a Luxembourg-domiciled fund. The firm aims to raise US$500 million for the vehicle, its third seeding fund, which it plans to close at the end of the year.

The Zurich digs are SkyBridge’s first foothold in Europe. It will be headed by firm chairman Thomas Gallagher, who plans to add three or four investor relations and manager selection professionals this year.

Switzerland’s largest city “offers a perfect combination of large numbers of high net-worth individuals, family offices, private banks and institutions providing new capital for seeding hedge funds together with a base to source talented emerging hedge fund managers,” Gallagher said.

Earlier this month, SkyBridge agreed to buy Citi Alternative Investments fund of hedge funds, hedge fund seeding and hedge fund advisory businesses, with a combined $4.2 billion in assets under management or advisory.


In Depth

Delayed Flash Crash Arrest Highlights Difficulties Detecting Fraud

Apr 23 2015 | 7:19am ET

The five years it took regulators to bring high-profile charges against a UK trader...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note