HNA Group acquiring SkyBridge Capital
January 30, 2017 Category Mergers & Acquisitions, Weekly
HNA Group is acquiring a majority stake in SkyBridge Capital, an alternative investment firm founded by Donald Trump Adviser Anthony Scaramucci. SkyBridge, a leading New York-based global alternative investment firm, announced that it has signed an agreement with HNA Capital (US) Holding and RON Transatlantic EG to sell the majority of its shares. The deal is expected to close in the second quarter of 2017. Detailed financial transactions were not disclosed. HNA, the parent of Hainan Airlines, China’s largest private airline, has strengthened its global portfolio with a string of overseas acquisitions in aviation, logistics and the hospitality businesses. The deal, the first acquisition of an alternative investment firm by HNA, would add to the assets of the group, which are now valued at more than CNY600 billion. “Our investment in SkyBridge is an important step in HNA Capital’s strategy to build a global asset management business,” said Yang Guang, CEO of HNA Capital. As of November 2016, SkyBridge managed or advised approximately USD12 billion in assets, the China Daily reports.
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