BOSTON (Reuters) – Investors in SkyBridge Capital asked for hundreds of millions of dollars back after the fund suffered a 23% loss in March when investments made by its debt-focused hedge fund managers soured, Anthony Scaramucci wrote in a letter to clients, saying he was “embarrassed” by the loss.
FILE PHOTO: Anthony Scaramucci, Founder and Co-Managing Partner at SkyBridge Capital, speaks during the opening remarks during the SALT conference in Las Vegas, Nevada, U.S. May 17, 2017. REUTERS/Richard Brian
“Redemptions were approximately 9.3% of assets as of March 31, 2020,” Scaramucci wrote about the firm’s main portfolio, called Series G. The letter was dated April 23 and seen by Reuters on Friday. The firm manages $7.7 billion in assets.
SkyBridge, which invests with a handful of hedge funds, in turn submitted redemptions of more than $1 billion to these managers in order to pay back its investors and shift around its investments.
The firm had no comment beyond the…
