America’s Skybridge to launch $500m Asia vehicle
US alternative investment manager SkyBridge Capital is planning to launch an Asia-focused fund next year worth $250-500 million, according to the firm’s founder.
According to Reuters, founder and managing partner Anthony Scaramucci said that SkyBridge, which has total assets of approximately $6.4 billion, intends to kick-start its plan to expand into Asia by opening its first office in the region in Singapore by March next year.
The firm currently has a presence in New York and Zurich and principally invests in alternative funds focused on mortgage-backed securities, late cycle distress, or events-driven equities.
Various Western fund managers have been extending their reach into Asia over the past few years, in a bid to tap into the region's growth story and bring new clients on board. Last year, energy-focused private equity firm First Reserve Corp. launched First Reserve Asia, and opened its first regional bureau in Hong Kong.
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