SkyBridge To Close #HedgeFund-Seeding Funds, Return Capital #AmyOr @WSJ @resilient_ent

SkyBridge Capital LLC is returning to investors capital from its two hedge-fund-seeding funds on lackluster performance. "

We just thought results were mediocre so we gave people the chance to switch into a better-performing product or get their money back.

 It was pro-client and well received," said SkyBridge founder and managing partner Anthony Scaramucci in an email. The two funds--SkyBridge I and II, managed $260 million assets or about 4% of the firm's $6.4 billion assets.

News on SkyBridge's return of seeding capital was reported by Bloomberg Friday. The report said SkyBridge I, which was launched in 2006, posted a 5.3% decline through May 2011, but didn't mention the performance of the other seeding fund.

READ MORE VIA #AmyOr @WSJ benny quetell @resilient_ent resilient media entertainment hedge funds

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