HAMLIN LOVELL T


HFJ 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


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