June 11 (Bloomberg) -- Anthony Scaramucci, the investment entrepreneur known as the “Mooch,” is teaming up with a restaurant owner and a former Morgan Stanley executive to open a Manhattan eatery catering to hedge-fund and private-equity professionals.
The group, which includes restaurateur Eytan Sugarman and David Barrett, a 22-year veteran of Morgan Stanley, seeks to raise $4 million for The Hunt and Fish Club, set to open in December. It will have the feel of an elite “clubhouse” and be an alternative to bars and eateries surrounding the Grand Central Terminal in Midtown, which are “not fun” and have unattractive staff, the team said in marketing documents to prospective investors.
Scaramucci is known for his SkyBridge Alternatives Conference in Las Vegas, the biggest conference in the hedge-fund industry, featuring speakers from former U.S. President Bill Clinton to actor Al Pacino. Scaramucci, who in 2005 started SkyBridge Capital LLC and has $5 billion invested for clients in hedge funds, played a cameo role as a trader in Oliver Stone’s 2010 sequel ‘Wall Street: Money Never Sleeps.’’ He and his restaurant partners envision the eatery as a gathering place for young employees at banks, brokerages and money-management firms.
“Isn’t it nice to walk through the doors of a restaurant to be greeted with ‘Mr. Scaramucci, so nice to see you again? Your table is ready for you...Mr. Scaramucci is one of our partners’,” the group wrote. “In short, all of us want to be made to feel special and privileged, particularly in front of our guests, business associates and clients.”
Sugarman, who owns New York restaurants Destino and Southern Hospitality BBQ, which counts Justin Timberlake and Scaramucci among its investors, said in a telephone interview that the new restaurant’s name has no connection with the Bergin Hunt and Fish Club, the former hangout in Queens of organized crime boss John Gotti.
Barrett, who left Morgan Stanley last year, is a managing director at Gotham Asset Management LLC. The Hunt and Fish Club team includes restaurant executive Christian Pascal and attorney Nelson Braff. Ray Nolte, Skybridge’s chief investment officer, will also be an owner, Scaramucci said yesterday in an e-mail.
“Dave Barrett and I have said for years that we wanted to have place where we could gather people from our community,” Scaramucci said in the e-mail. “Great food and great social environment.”
The executives are seeking minimum investments of $50,000 by July 15, according to a separate June 3 e-mail sent by Scaramucci and Barrett to prospective clients. They are holding meetings for potential investors today, June 18, June 27 and July 8 in New York.
Investors will get 30 percent of the total equity and will receive 80 percent of all distributions until those payments equal the amount of the initial investment, according to the marketing documents. After that, distributions will be made on a pro-rated basis based on total equity. Investors are expected to recoup their initial investment in two to three years.
The Hunt and Fish Club would target young professionals with “high to extremely-high disposable income” and who are patrons of eateries such as Rothmann’s Steakhouse & Grill and Papillon Bistro & Bar.
The restaurant will occupy a newly renovated 8,000 square-foot building at 125 West 44th Street, between 6th Avenue and Broadway. The restaurant’s interiors will be designed by artist Roy Nachum, according to the document.
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