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Products April 14, 2010
SkyBridge Acquires Citi Hedge Funds Businesses
April 14, 2010 (PLANSPONSOR.com) – SkyBridge Capital has entered into a definitive agreement to acquire the fund of hedge funds, hedge fund seeding, and hedge fund advisory businesses from Citi Alternative Investments.
Reported by Fred Schneyer
A SkyBridge Capital news release said the acquired business lines had total investments under management and advisory of $4.2 billion that will give a total of $5.6 billion in assets under management and advisory. Terms of the transaction were not disclosed.
These businesses are part of Citi Holdings, the segment which contains Citi’s non-core assets and businesses. Raymond Nolte, who has led these businesses at Citi since 2005, will join SkyBridge as a managing partner and chief investment officer. He brings a team of more than 20 professionals.
More information is at http://www.skybridgecapital.com/.