SkyBridge Liquidating Seeding Funds

May 30 2012 | 1:27pm ET

SkyBridge Capital got its start as a hedge fund seeding operation. Now a major market player, the New York-based firm is walking away from its roots.

SkyBridge plans to liquidate its two seeding funds and focus on its fund of hedge funds business. The firm will continue to manage a third seeding fund it acquired when it bought three of Citigroup's alternative investments business.

Founder Anthony Scaramucci said he chose to pull the plug on SkyBridge I and II because of "mediocre" returns. SkyBridge I is down 5.3% through May of last year; it debuted in 2006, the year after Scaramucci launched the firm.

"We gave people a chance to switch into a better-performing product or get their money back," Scaramucci said. "It was pro-client and well-received."

The two funds will be completely liquidated by April of next year.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…