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Alternative Market Briefing

Seeder vehicle Skybridge sees current market turmoil as opportunity to scout new managers
Monday, March 17, 2008

From Kirsten Bischoff, New York:SkyBridge Capital LLC, the hedge fund seeder vehicle headed by Anthony Scaramucci and Scott Prince and backed by Michael Dell’s MSD Capital, views the current market turmoil as an opportunity to find new managers.

A $47m October investment in U Capital ( See here for previous coverage in Opalesque) marked the completion of the investment cycle for the SkyBridge Funds’ hybrid business model which incorporates both hedge fund and private equity product traits. However, with the recent termination of managers Brompton Cross and Steeplechase from its portfolio, SkyBridge is set to redeploy capital with a soon-to-be announced manager and the investment team is still looking closely for additional talent. In a recently released letter to SkyBridge’s partners, Scaramucci and Prince note that due to the uncertainty in the markets they have seen “experienced, highly pedigreed potential new managers who want to take advantage of current prices by starting new businesses.”

Manager Requirements SkyBridge is currently diversified by geography and strategy with assets in real estate (Westport), equity long-short (Outp......................

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