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Scaramucci’s SkyBridge Funds Tumbled 39% Last Year on Wrong-Way FTX, Crypto Bets

  • The firm’s largest fund has cut back on redemptions since 2020
  • Clients asked to redeem 60% of shares last year, got back 10%
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Anthony Scaramucci’s SkyBridge Capital lost 39% last year in its biggest fund after wrong-way bets on cryptocurrencies and now-bankrupt FTX, spurring investors to ask the firm to return more than half of their money. 

SkyBridge’s largest fund, with $1.3 billion of assets at the end of the third quarter, had one of its worst months of 2022 in November, when FTX declared bankruptcy, according to people familiar with its performance.