Scaramucci’s SkyBridge Sinks 22% This Year on Market Turmoil
- Most of the losses came in March when the flagship fell 22.5%
- Fund-of-funds firm had bet heavily on hard hit credit managers
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SkyBridge Capital, the investment firm founded by Anthony Scaramucci, suffered a roughly 22% plunge in the first three months of the year, according to a person with knowledge of the matter.
The firm’s flagship strategy, which had bet heavily on credit funds, saw most of the losses in March when it dropped 22.5% amid the coronavirus-fueled market sell-off, said the person, who asked not to be identified because the information isn’t public. As a fund-of-funds manager, SkyBridge doesn’t invest in individual securities. Instead, it makes allocations to other hedge funds.