Scaramucci Halts Withdrawals in a Fund After Stock, Crypto Swoon
- Skybridge’s Legion Strategies now only has about 10% in crypto
- Fund also has about 20% allocated to privates, including FTX
Anthony Scaramucci
Photographer: Joe Buglewicz/BloombergThis article is for subscribers only.
Anthony Scaramucci’s Skybridge Capital suspended redemptions in one of its funds after sharp declines in stocks and cryptocurrencies, according to people familiar with the decision.
The Legion Strategies fund suspended redemptions because private companies, which are harder to sell, now make up about 20% of the portfolio, one of the people said. The fund is one of Skybridge’s smaller offerings, farming out most of its roughly $230 million of assets to hedge fund managers.