Sat, Nov 18, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

SkyBridge looks toward the future

Friday, May 19, 2017

Bailey McCann, Opalesque New York:

When hedge fund impresario Anthony Scaramucci abruptly sold his firm SkyBridge Capital to HNA Group, a large Chinese conglomerate, in January in order to pursue a position in the Trump White House, the deal made news. The transaction is expected to close in June of this year and Opalesque sat down with Skybridge CIO Ray Nolte at SALT to get a sense of where the firm is headed as part of HNA.

"There really hasn't been that much disruption," Nolte tells Opalesque. "In many ways, the HNA transaction was similar to how things went when I came in with Citi in 2010. HNA didn't have a business in this space so we could just continue on without a lot of integration work."

China's HNA Group started as an aviation company but has spent more than $33 billion in foreign and domestic transactions that have expanded the firm further into aviation, as well as hotels, logistics, and financial services. HNA recently announced it was taking a 25 percent stake in Old Mutual's US asset management unit in a deal that cost some $446 million. According to Bloomberg, HNA has also acquired assets from Australia & New Zeland Banking Group and is one of the largest shareholders in Deutsche Bank.

The HNA deal also builds on an expansion of sorts into Asia that was already underway at SkyBridge. In 2013,......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Paradise Papers - Robert Mercer's effort to avoid taxes appears in Paradise Papers, Tycoon made $41m from 'people's fund', Oxford and Cambridge 'investing millions of pounds offshore', Paradise Papers reveal[more]

    Robert Mercer's effort to avoid taxes appears in Paradise Papers From Therealnews.com: The Guardian has reported that conservative billionaire and Trump backer Robert Mercer "appears as a director of eight Bermuda companies in the Paradise Papers," the trove of documents reviewed by the

  3. Wall Street hedge fund veteran hits highs with copycat tactics[more]

    From FNLondon.com: A Wall Street veteran who has made big returns for wealthy clients by piggybacking on the strategies of well-known hedge funds is taking his novel approach to stock-picking to institutional clients. Dixon Boardman, chief executive of $2.5bn fund of hedge funds Optima Fund Ma

  4. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  5. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W