I wanted to take a moment to congratulate Anthony Scaramucci and Andy Klein on the closing of their new fund, SkyBridge Capital. As announced by Reuters, SkyBridge closed on $330 mm with backing by Michael Dell's investment arm, MSD Capital. The strategy of the fund is to seed hedge fund startups with strong managers who are looking to start their own gigs. As I mentioned previously, I am an investor in the deal so I am bound to be hush hush on the details.
At any rate, SkyBridge has announced their first two investments, Westport Capital Partners and Brompton Cross Capital Advisers. Westport Capital will focus on real estate assets and will be run by a heavy hitter from Oaktree Capital. Brompton Cross will focus on technology, media, and telecommunications and will be run by a guy branching off of the legendary SAC Capital.
The folks at SkyBridge have done a great job putting their company together over the last year. They have a group of major league fundraisers on staff with some deep connections all over the world. In working with some of the people at SkyBridge over the years, what impresses me most is that their management strategy is responsible and conservative. They manage their companies as if they were already public companies. Time and time again they stick to their timeline and do not set high of expectations. They then consistently deliver ahead of schedule, which makes everyone happy!
Good work Anthony and Andy and good luck on this endeavor!
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