SkyBridge to buy Citi's hedge fund business

Tue May 4, 2010

SkyBridge Capital has entered into a definitive agreement to acquire the fund of hedge funds, hedge fund seeding and hedge fund advisory businesses from Citi Alternative Investments with total investments under management and advisory of $4.2 billion.

Anthony Scaramucci

The transaction will position SkyBridge as one of the leading global alternative asset managers with a total of $5.6 billion in assets under management and advisory, and solidifies the firm as a global leader in hedge fund incubation.

This sale is consistent with Citi's strategy...


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