SkyBridge Capital Majority Stake to be Sold

January 23, 2017

On January 17, 2016, SkyBridge Capital announced a definitive agreement for RON Transatlantic EG and Seward & Kissel client HNA Capital (U.S.) Holding to acquire a majority stake in Skybridge.

SkyBridge Capital (“SkyBridge”) founder, Anthony Scaramucci, will no longer be affiliated with SkyBridge, stepping down from the position of co-managing partner, effective immediately. The remainder of the senior management team and the full investment team will remain intact. The financial terms of the agreement were not disclosed. The transaction is expected to close in the second quarter of 2017.

SkyBridge is a New York-based global alternative investment firm whose offerings include commingled funds of hedge funds, hedge fund advisory services, a long-only mutual fund, and customized separate account portfolios. As of November 30, 2016, SkyBridge had approximately $12 billion in assets under management.

HNA Capital (U.S.) Holding is the New York-based subsidiary of HNA Capital, the financial services unit of HNA Group, a Fortune Global 500 company with over $90 billion of assets. HNA Capital is a full service financial solutions provider, offering a diverse set of global businesses in investment banking, credit services, insurance and equipment leasing.

RON Transatlantic EG is a holding company, with interests in various sectors including financial services, logistics, energy and brewing.

A Seward & Kissel team led by Business Transactions Group partners Craig Sklar, Gerhard Anderson and Jim Abbott and associates Danielle Lemberg, Kaitlyn Pasco and Amit Raviv, Employment partner Anne Patin and counsel Julia Spivack, Investment Management counsel Keri Reimer, Tax partner Jonathan Brose, Broker-Dealer partner Marlon Paz, and Employee Benefits counsel Michael O’Brien are representing HNA Capital (U.S.) Holding in connection with this transaction.

To read the press release: please click here.


Categories

Hedge Fund M&A, Investment Manager M&A, Mutual Fund M&A, Transactions