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Digital Subscriptions > The Hedge Fund Journal > Issue 109 - November 2015 > SkyBridge Toasts Ten Years

SkyBridge Toasts Ten Years

Successful multi-strategy hedge fund investing

THFJ visited SkyBridge Capital’s New York offices as the investment team celebrates over ten years together, during which time the strategy has surpassed many investors’ expectations for performance and seen assets more than triple, despite the headwind of a contracting fund of funds industry and the worst financial crisis since the Great Depression. SkyBridge has a stable team: “Of the 24 people that came over from Citi only one junior analyst has departed” says CIO, and co-Managing Partner, Ray Nolte. The team process is ten years old, having originated in Citi’s fund of hedge fund business, Citigroup Alternative Investments Hedge Fund Management Group, which SkyBridge acquired in June 2010, bringing in some $1.3bn of discretionary assets and $3bn of advisory managed account assets. SkyBridge founder Anthony Scaramucci led the Citi acquisition after being connected to Nolte through mutual industry contacts. Since then the firm has seen spectacular asset growth, from $4bn to $13.4bn (shown below). Nearly all of this has come from the core business, which is structured as a comingled funds of funds. SkyBridge views its investment structure “as a multi-strategy fund that allocates externally”- across a broad array of asset classes, strategies and managers. “We take a thematic approach to our investment theses and actively express high conviction views. Our more tactical and dynamic process resonates with investors and has resulted in performance gains and steady asset raising” states Nolte. Further, SkyBridge has used its size, as one of the world’s largest allocators, to negotiate lower fees from 84% of funds it invests in, “The benefits of lower fees are passed on to our investors,” Nolte makes clear.

Pictured (L-R): Anthony Scaramucci, Founder and Co-Managing Partner and Ray Nolte, Co-Managing Partner and Chief Investment Officer

Investor Education and The SALT Conference

SkyBridge continues to play a prominent role in industry advocacy and investor education, through the SkyBridge Alternatives (SALT) Conference, conceived by partner Victor Oviedo and held annually each May in Las Vegas since 2009; and other international thought leadership events that are held throughout the world. Anthony Scaramucci is also the co- host of the iconic US television show Wall Street Week and is a regular contributor to Fox Business News. He has also published two books titled ‘Goodbye Gordon Gekko: How to Find Your Fortune without Losing your Soul’ and ‘The Little Book of Hedge Funds’. All of these efforts have been designed to “bring the hedge fund industry to a broader audience with the goal of providing investors with access to the world’s most relevant thought leaders and industry decision makers from the intersecting worlds of finance, politics, public policy, science, and philanthropy.” says Scaramucci.

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INFORMING THE HEDGE FUND COMMUNITY With access to some of the industry’s biggest names and an astute and talented group of writers and contributors, The Hedge Fund Journal has established itself as a trusted source of information on the hedge fund industry.