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Alternative Market Briefing

SkyBridge looks to expansion in Asia with Woori strategic partnership

Thursday, July 11, 2013

Bailey McCann, Opalesque New York:

SkyBridge Capital and Woori Investment & Securities have announced a strategic partnership that will allow for the distribution of SkyBridge’s hedge fund products throughout Korea and other regions in Asia. In conjunction with the partnership, Woori has also allocated capital to a SkyBridge fund of hedge funds vehicle.

"We started looking at Woori over two years ago when we began examining ways to expand the business and wanted to increase the awareness of Skybridge in Asia," Ray Nolte, co-managing partner and chief investment officer at SkyBridge Capital, tells Opalesque.

SkyBridge Capital has approximately $8.2bn in AUM, historically focusing on the US. The firm also has a product available to retail investors. The retail product has approximately $3.9bn in AUM and has added nearly $1bn this year. Woori Investment & Securities is a core subsidiary of the Woori Financial Group, one of the largest financial groups in Korea.

"We made a number of trips out to Asia and recently launched the SkyBridge SALT Conference in Asia. There is some historic skepticism about hedge funds in that part of the world, but we think the corporate structure and governance in Korea is strong and we are starting to build relationships. We are taking a longer term view of the region and believe demand will continue to build for alternatives," Nolte says.

Through this partnership the firm plans to increase global distribution of its hedge fund ......................

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