SkyBridge To Launch Emerging Manager Hedge Fund

Jan 25 2008 | 11:45am ET

New York-based fund of emerging hedge fund managers SkyBridge Capital is diversifying its portfolio and launching a second fund to capture alpha from overseas emerging managers. FINalternatives has learned that the firm hopes to raise up to US$700 million for its Skybridge 2 fund, which will invest in as many as 15 underlying managers.

The fund already has $400 million in commitments from Asian and European investors and is making its debut on March 31, according to sources with knowledge of the firm’s capital raising efforts. “There is a huge institutional demand for people who want to have ownership in the hedge fund space,” sources said.

Like its predecessor SkyBridge Capital Partners and SkyBridge Capital funds, which raised a combined $330 million, the new offering will invest between $25 million to $50 million per manager. Sources say that the new fund may invest in an asset-backed securities hedge fund, an Indian-focused hedge fund and two other managers based in London and China.

“[Skybridge’s] brand is out there now and they’re getting a lot of reverse inquiries and incoming potential ideas. They want to look at high integrity, high money making managers with low egos, and are less concerned about where they’re located,” sources say. “These four managers are smart guys spinning out of larger firms who want to own their own businesses and control their own destinies, but want a good strategic partner alongside in the name of Skybridge.”

Skybridge 2 charges a 1.25% management fee and a 15% incentive fee with a $2.5 million minimum investment requirement. The fund also sports a three-year lockup period.

In addition, FINalternatives has learned that Skybridge has jettisoned its investment in Brompton Cross Capital Advisers, a long/short global equity hedge fund with a focus on the technology, media and telecommunications sectors, because the firm underperformed its benchmark, the NASDAQ Composite Index. Also, Skybridge is planning to open a new office in London by the start of the third quarter.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.