SkyBridge Capital: strategy, setbacks & outlook in the post-crypto era
SkyBridge Capital is an investment management firm founded in 2005 by Anthony Scaramucci and based in New York. It manages a broad range of assets—including hedge funds, private equity, public markets, and digital assets—and is known for organizing the prestigious SALT Conference for alternative finance leaders.
Headquartered in New York, it also has offices in Palm Beach (FL), Zurich, Seoul, and London. Its executive team includes Scaramucci, Brett Messing, and Ray Nolte.
Key takeaways
Financial Analysis & Challenges
Strengths
- Crypto positioning: High BTC exposure fueled 2024 outperformance
- Global network: Through SALT and diversified international presence
Weaknesses
- Extreme volatility: –39% in 2022, AUM dropped from ~$9B to ~$2B
- Liquidity issues: Withdrawal limits upset investors
2. SALT Conference: The Flagship Event
Since 2009, SkyBridge has hosted SALT (SkyBridge Alternatives Conference), a global summit uniting hedge funds, policymakers, and finance influencers. Initially launched in Las Vegas, SALT has expanded to New York, Singapore, Tokyo, and Abu Dhabi. It’s one of the world’s leading events in the alternative investment space.3. Growth History & Asset Acquisitions
In 2010, SkyBridge acquired the hedge fund arm of Citi Alternative Investments, increasing AUM from $450M to $5.9B. Key team members Ray Nolte and Troy Gaveski joined at this time. At its peak in 2015, the firm managed ~$9B and opened new offices, including in Palm Beach. In 2017, a takeover attempt by HNA Group fell through. Scaramucci returned in 2018 to lead the firm independently again.4. Crypto Exposure & Recent Results
2020: Crypto Entry
SkyBridge launched a private Bitcoin fund in early 2021 and invested over $180M into BTC. As of late 2024, over 50% of its $2.7B in AUM is crypto-based, mainly in Bitcoin.2022–2023 Performance
- In 2022, its flagship fund lost 39%, heavily affected by FTX’s collapse and crypto volatility. Only 10% of requested withdrawals were honored.
- Legion Strategies, another SkyBridge fund, suspended redemptions in July 2022.
- Scaramucci sold 30% of SkyBridge to FTX for $45M with a buyback clause—but after FTX’s bankruptcy, that stake became a legal and reputational challenge.
2024 Recovery
SkyBridge rebounded with +43% performance in 2024, driven by crypto market recovery and renewed BTC exposure (now 57% of total AUM).Platform to buy Bitcoin
Conclusion
Opportunities
- Crypto growth: Continued BTC/ETH exposure may drive returns
- Digital expansion: New Web3 strategies promoted through SALT
- Rebuilding trust: Post-FTX clarity and improved transparency
Threats
- Crypto market swings: High volatility undermines fund stability
- Damaged reputation: Withdrawal restrictions, FTX ties
- Strong competition: From diversified hedge funds and crypto-native asset managers
Disclaimer :
Trading is risky and you may lose all or part of your capital. The information provided does not constitute financial advice and/or an investment recommendation
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