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Anthony Scaramucci to Sell SkyBridge for Job in Trump Administration
Anthony ‘The Mooch’ Scaramucci was a fund-raiser for Donald Trump’s campaign and a member of the president-elect’s transition team. Now the NY hedge fund chief is trying to sell SkyBridge Capital so he can take a job in the Trump administration. “He’s saying he has a job if he wants it,” one friend told me – though no specifics have been offered.
SkyBridge is a “fund-to-fund,” which puts investments into a basket of hedge funds, adding layers of management fees. The entire sector is declining, and SkyBridge’s assets under management have fallen to about $7.5 billion, from $9.2 billion a year ago, according to a recent Bloomberg article. “Scaramucci has been talking about selling SkyBridge for a while. The business sucks,” said my source. “He wants to get about $200 million.”
