Has “The Mooch” lost his mojo?
Anthony Scaramucci, who is famous for his 11-day stint as former President Donald Trump’s communications director, is facing a mass exodus of investors from his funds.
Bloomberg reported earlier this week that Mr. Scaramucci’s firm SkyBridge Capital had halted withdrawals from one of its smaller funds, Legion Strategies, which contains just over $200 million. But Mr. Scaramucci is also struggling to hold on to investors in SkyBridge’s flagship fund, the SkyBridge Multi-Adviser Hedge Fund Portfolios, which managed as much as $2 billion at the end of March. Its investments lost nearly a quarter of their value in the second quarter.
Investors in SkyBridge’s flagship fund are seeking to withdraw as much as $890 million, or about half of the money that it held as of the end of last month, Mr. Scaramucci told the DealBook newsletter. But many of those investors will be stuck in the fund for a while.
Under its rules, investors in the Multi-Adviser fund are...
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