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Bailey McCann, Opalesque New York: RON Transatlantic EG and HNA Capital U.S., the New York-based investment arm of $90 billion Chinese conglomerate HNA Group, will buy New York-based SkyBridge Capital for an undisclosed sum. The deal comes after news that SkyBridge founder and CEO Anthony Scaramucci was appointed assistant to the president for the incoming Trump administration.
The transaction is expected to close in the second quarter of 2017. SkyBridge declined to comment on terms.
Scaramucci will be stepping down from his role at the $12 billion hedge fund of funds firm, but the current senior management team and its full investment team will remain intact. George Hornig, CEO of RON Transatlantic Financial Holdings will join the board at SkyBridge in order to expand products and distribution channels for the firm.
SkyBridge will also spin out the SALT Conference into a standalone company around the event. This year's SALT Conference, scheduled to be held May 16-19, 2017, in Las Vegas, will continue as planned.
As first reported by the Wall Street Journal, Scaramucci was appointed assistant to the president, director of the office of public liaison, for the incoming Trump administration last week. In the role, Scaramucci will work with both the US business community and political interests to further the goals o...................... To view our full article Click here
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