Here is a guy targeting a business that has some serious room to run. Anthony Scaramucci is trying to introduce hedge funds investors with $100k to $1 million to invest. At this point in time only 3% of this group have investments in hedge funds.
Bloomberg profiles Scaramucci:
Anthony Scaramucci fist bumps investors as he makes his way through a poolside party at the Bellagio Hotel in Las Vegas on a May evening.
“It’s the Mooch!” someone shouts. Scaramucci, a Harvard Law School graduate who flunked the New York bar exam twice and was fired from Goldman Sachs Group Inc. (GS) in 1991, is exactly where he wants to be: playing host to the hedge-fund industry as it surges past $2 trillion in global assets.
Scaramucci is the creator and ringmaster of the SkyBridge Alternatives Conference, known as SALT, the largest annual symposium and schmoozefest for hedge-fund managers and investors in the U.S. For three days in May, more than 1,750 investment professionals soaked up market insights from industry stars Steven A. Cohen, Leon Cooperman and Kenneth Griffin; geopolitical observations from Colin Powell and Gordon Brown; and sports talk from New York Jets head coach Rex Ryan, Bloomberg Markets magazine reports in its October issue.
At the poolside gala capping the opening day, young women in cocktail dresses play air hockey. Across the patio, men smoke freshly rolled Dominican cigars. Jugglers, mimes and an Italian clown riding a unicycle weave their way between revelers sipping drinks and feasting on roasted pork.
“Can you believe this?” Scaramucci, 47, says, savoring the festivities he’s organized. “You’ve got to use the skill set God has given you, and I have the ability to connect with people. I was made to do this stuff.”
Influential Friends
Welcome to the Anthony Scaramucci show. Two years ago, he was a little-known money manager facing the failure of his New York-based funds of hedge funds, SkyBridge Capital LLC, following the worst financial crisis in decades. Scaramucci swiftly recovered and catapulted himself into the center of the hedge-fund world through unabashed self-promotion and his gift for forging relationships with influential figures.
His friends range from Michael Milken, who helped debut the first SALT conference in 2009, to movie director Oliver Stone, who gave Scaramucci a cameo as a short seller in his 2010 sequel Wall Street: Money Never Sleeps. Former President George W. Bush, the keynote speaker at this year’s conference, even nicknamed his dapper host “Gucci Scaramucci.”
“Anthony is a likable, self-promotional, street-smart kid who understands the tremendous opportunity for growth in the hedge-fund industry as the world grows more volatile,” says Cooperman, 68, the billionaire founder of Omega Advisors Inc. in New York.
Mass Affluent
For all of the attention Scaramucci is attracting, he’s pushing an investment model -- funds of hedge funds -- that has lost assets and credibility since the credit crisis. SkyBridge, which manages $2.8 billion in assets, is aiming its funds of funds at so-called mass affluent investors. They are households with a net worth of $100,000 to $1 million not counting their primary residence, according to the Spectrem Group, a Lake Forest, Illinois-based research firm that analyzes wealth trends.
For the entire article:
http://www.bloomberg.com/news/2011-09-09/-gucci-scaramucci-fired-by-goldman-schmoozes-his-way-into-top-hedge-funds.html
Bloomberg profiles Scaramucci:
Anthony Scaramucci fist bumps investors as he makes his way through a poolside party at the Bellagio Hotel in Las Vegas on a May evening.
“It’s the Mooch!” someone shouts. Scaramucci, a Harvard Law School graduate who flunked the New York bar exam twice and was fired from Goldman Sachs Group Inc. (GS) in 1991, is exactly where he wants to be: playing host to the hedge-fund industry as it surges past $2 trillion in global assets.
Scaramucci is the creator and ringmaster of the SkyBridge Alternatives Conference, known as SALT, the largest annual symposium and schmoozefest for hedge-fund managers and investors in the U.S. For three days in May, more than 1,750 investment professionals soaked up market insights from industry stars Steven A. Cohen, Leon Cooperman and Kenneth Griffin; geopolitical observations from Colin Powell and Gordon Brown; and sports talk from New York Jets head coach Rex Ryan, Bloomberg Markets magazine reports in its October issue.
At the poolside gala capping the opening day, young women in cocktail dresses play air hockey. Across the patio, men smoke freshly rolled Dominican cigars. Jugglers, mimes and an Italian clown riding a unicycle weave their way between revelers sipping drinks and feasting on roasted pork.
“Can you believe this?” Scaramucci, 47, says, savoring the festivities he’s organized. “You’ve got to use the skill set God has given you, and I have the ability to connect with people. I was made to do this stuff.”
Influential Friends
Welcome to the Anthony Scaramucci show. Two years ago, he was a little-known money manager facing the failure of his New York-based funds of hedge funds, SkyBridge Capital LLC, following the worst financial crisis in decades. Scaramucci swiftly recovered and catapulted himself into the center of the hedge-fund world through unabashed self-promotion and his gift for forging relationships with influential figures.
His friends range from Michael Milken, who helped debut the first SALT conference in 2009, to movie director Oliver Stone, who gave Scaramucci a cameo as a short seller in his 2010 sequel Wall Street: Money Never Sleeps. Former President George W. Bush, the keynote speaker at this year’s conference, even nicknamed his dapper host “Gucci Scaramucci.”
“Anthony is a likable, self-promotional, street-smart kid who understands the tremendous opportunity for growth in the hedge-fund industry as the world grows more volatile,” says Cooperman, 68, the billionaire founder of Omega Advisors Inc. in New York.
Mass Affluent
For all of the attention Scaramucci is attracting, he’s pushing an investment model -- funds of hedge funds -- that has lost assets and credibility since the credit crisis. SkyBridge, which manages $2.8 billion in assets, is aiming its funds of funds at so-called mass affluent investors. They are households with a net worth of $100,000 to $1 million not counting their primary residence, according to the Spectrem Group, a Lake Forest, Illinois-based research firm that analyzes wealth trends.
For the entire article:
http://www.bloomberg.com/news/2011-09-09/-gucci-scaramucci-fired-by-goldman-schmoozes-his-way-into-top-hedge-funds.html
