Pensions & Investments Daily – SkyBridge Capital will consolidate its 15 funds that provide seed capital to startup and early-stage hedge fund companies into a single fund and will seek to list that fund on a New York exchange by the end of the year as part of “re-engineering the business,” said Anthony Scaramucci, managing partner.
The move is being made in response to a tough environment for young hedge fund companies, Mr. Scaramucci said. “The hedge fund seeding business is in a nuclear winter right now, with negative macroeconomic factors such as investor fear, market uncertainty, the economic recession and the prospect of finding more hedge fund rogues and criminals, making it difficult for new hedge fund managers to make it.
