One of SkyBridge Capital’s funds suspends withdrawals
According to sources, Legion Strategies has frozen redemptions because the shares of private companies, which are harder to sell, account for about 20% of the portfolio
19.07.2022 - 10:30
549
2 min
0
What’s new? Legion Strategies, one of the funds of the investment firm SkyBridge Capital, has suspended redemptions amid a sharp decline in stocks and cryptocurrencies. An anonymous source told Bloomberg that the freezing is due to the fact that shares of private companies, which are harder to sell, now account for about 20% of the fund’s portfolio.
Information on the Bloomberg website
What is known about Legion Strategies? This fund is one of SkyBridge’s projects, which has transferred most of its assets, amounting to approximately $230 million, to hedge fund managers. Legion Strategies has accessed digital assets through other funds managed by SkyBridge, including those focused on bitcoin, Ethereum, and Algorand. As of February 28, almost a quarter of Legion’s assets were invested in them.
SkyBridge also owns a larger fund, the Multi-Adviser Hedge Fund Portfolios, which had about $2 billion under management as of March 31, according to a separate filing. According to the source, SkyBridge said it will buy back 10% of the fund’s shares at the end of September, the next period when investors can withdraw their money. The company did not respond to Bloomberg’s request for comment on the situation.
What is known about SkyBridge Capital? It is an alternative investment company specializing in solutions in the field of hedge funds and investment instruments. It was founded by former Donald Trump aide Anthony Scaramucci in 2005. At the end of April, SkyBridge announced plans to launch a new fund for mining.
Useful material?
Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024