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16 Apr 2010

SkyBridge Acquire 3 of Citi’s Hedge Fund Businesses

HedgeCo News - SkyBridge Capital has agreed to buy the fund of hedge funds, hedge fund seeding and hedge fund advisory businesses from Citi Alternative Investments, LLC (CAI), with total investments under management and advisory of $4.2 billion.

“It has been our belief for several years that the integration of a fund of hedge funds business is a natural fit with the SkyBridge platform, and this deal is a result of our long-term strategy to acquire assets that maximize value for investors,” said Anthony Scaramucci, managing partner of SkyBridge Capital.

The transaction will position SkyBridge as one of the leading global alternative asset managers with a total of $5.6 billion in assets under management and advisory and solidifies the firm as a global leader in hedge fund incubation. Terms of the transaction were not disclosed.

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