Thursday, 24 July 2014
Last updated 5 hours ago
Jun 11 2013 | 9:54am ET
SkyBridge Capital founder Anthony Scaramucci isn't satisfied with midtown Manhattan's dining and drinking options. So he's opening a restaurant of his own.
Scaramucci, Gotham Asset Management's David Barrett and New York restauranteur Eytan Sugarman have teamed up to create The Hunt and Fish Club. The trio are seeking $4 million for the eatery, which would open in December on West 44th Street between Broadway and Sixth Avenue, Bloomberg News reports.
According to a marketing document sent to prospective investors, The Hunt and Fish Club will feel like an elite "clubhouse," with "great food and a great social environment." It will cater to "high to extremely-high disposable income" young professionals, with interiors designed by artist Roy Nachum.
"Isn’t it nice to walk through the doors of a restaurant to be greeted with, 'Mr. Scaramucci, so nice to see you again? Your table is ready for you…. Mr. Scaramucci is one of our partners," Scaramucci, Barrett and Sugarman wrote. "In short, all of us want to be made to feel special and privileged, particularly in front of our guests, business associates and clients."
"Dave Barrett and I have said for years that we wanted to have a place where we could gather people from our community," Scaramucci, who is also behind one of the hedge fund industry's premier events, the SkyBridge Alternatives Conference, or SALT, wrote.
In addition to Scaramucci, Barrett and Sugarman, The Hunt and Fish Club also includes restauranteur Christian Pascal, lawyer Nelson Braff and SkyBridge chief investment officer Ray Nolte as co-owners. And it's seeking more, with the three partners meeting potential investors today, June 18, June 27 and July 8. The minimum investment is $50,000, and the partners want the money by July 15.
Investors will split 30% of the restaurant's equity and will get 80% of distributions until they have recouped their initial investment, expected to be within two to three years. Thereafter, distributions will be made on a pro-rated basis.
And even though The Hunt and Fish Club is still months from becoming reality, the partners didn't hesitate to take shots at the would-be competition. The marketing document complains that the restaurants and bars around New York's Grand Central Terminal are "not fun" and have unattractive staffers.
Jul 8 2014 | 10:48am ET