Investment company Anthony Scaramucci lost 22% of value

Investment company Anthony Scaramucci lost 22% of value

Anthony Scaramucci on why he’s bullish on bitcoin and Skybridge Capital new bitcoin fund

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Investment company Anthony Scaramucci lost 22% of value

SkyBridge Capital, an investment firm founded by Anthony Scaramucci, plunged sharply in March as the coronavirus pandemic triggered violent fluctuations in global markets.

The company’s flagship fund fell 22.5% in March, bringing its current year loss to 21.9%, The Wall Street Journal reported, citing a report for investors. In March, the fund was saddled with high interest rates in debt investments. SkyBridge invests in hedge funds, not in individual assets.

Now, according to the report, some of the funds in which SkyBridge has invested did not allow clients to withdraw money due to losses.

SkyBridge relies on hedge funds that invest in structured loans such as mortgages, credit cards and corporate loans. In February, the group’s flagship product, Series G, invested about $ 5 billion in hedge funds and has grown over the year.

The situation unfolded in March when the coronavirus pandemic shook global markets. Loan investments have been hit particularly hard as investors feared the crisis would hurt consumers and other borrowers.Investment company Anthony Scaramucci lost 22% of value Debt markets have recovered in recent days, which may help SkyBridge. Nonetheless, Anthony Scaramucci and his group face pressure.

Scaramucci rose to prominence outside the hedge fund industry in 2017, when he briefly served as the White House’s director of communications. The president Donald Trump removed him from office after 10 days. The shift came shortly after a New Yorker article was published in which Scaramucci criticized other senior White House officials..