Funds of Hedge Funds

SkyBridge seeks $250m for third seeding fund


SkyBridge Capital is understood to be raising up to $250 million in a third hedge fund seeding fund to be launched in May.

The New York-based firm provides strategic capital to new and early-stage hedge funds and recently committed capital to invest in Union Avenue Advisors LP, an equity hedge fund. SkyBridge, which received backing from Michael Dell's family office, already has strategic investments in nine funds in two seeding vehicles, and in aggregate the firm and its underlying managers have roughly $1.5 billion under management.

Last year, SkyBridge formed a strategic relationship with Challenger Financial Services Group in