Reuters – SkyBridge Capital Launching Asia-Focused Fund

U.S. alternative investment firm SkyBridge Capital will launch a $250 to $500 million Asia-focused fund next year as part of a planned expansion into the region, its founder said on Tuesday. SkyBridge, which manages about $6.4 billion, currently operates in New York and Zurich. It hopes to open its first Asian office in Singapore by end-March 2013, Reuters reported.

 

(Reuters) – U.S. alternative investment firm SkyBridge Capital will launch a $250 to $500 million Asia-focused fund next year as part of a planned expansion into the region, its founder said on Tuesday.

 

SkyBridge, which manages about $6.4 billion, currently operates in New York and Zurich. It hopes to open its first Asian office in Singapore by end-March 2013, founder and managing partner Anthony Scaramucci told reporters.

 

The firm invests primarily in other alternative funds, in particular those engaged in strategies involving mortgage-backed securities, late cycle distress, or events-driven equities.

 

Western fund managers have been expanding in Asia to tap the region’s faster-growing economies and in search of new clients. (Reporting by Charmian Kok; Editing by Kevin Lim)