Funds of Hedge Funds Mergers & Acquisitions / Joint Ventures

SkyBridge to buy Citi's hedge fund business


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 to reduce non-core assets, tightly manage risks and optimise the value