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Scaramucci’s Story

An Interview with Anthony Scaramucci, Founder and Co-Managing Partner, SkyBridge Capital

EDITORS’ NOTE Anthony Scaramucci You have been involved in a num- always thought that if I serve one, two, three is also the author of four books: ber of different areas over the last years in the government – it turned out I only The Little Book of Hedge Funds, few years, including serving as served 11 days – I would have returned back to Goodbye Gordon Gekko, Hopping Communications Director at The this business or a form of the business. Over the Rabbit Hole and Trump: The White House. What brought you I am a business person and I am an entre- Blue-Collar President. Prior to found- back to SkyBridge? preneur. I’m not a politician. If you look at my ing SkyBridge in 2005, Scaramucci I put my heart and soul and my life, I have spent 30 years in business since co-founded investment partner- entire life into SkyBridge. It was a I left law school. I have never run for offi ce. ship Oscar Capital Management, unique circumstance when a friend of I’ve never done anything political other than which was sold to Neuberger mine ran for president, happened to the fact that I’ve fi nancially supported politi- Berman in 2001. Earlier, he was win the presidency and then offered cal candidates, which a lot of people on Wall a vice president in Private Wealth me a job in his administration. I love Street do. Management at Goldman Sachs Anthony Scaramucci this country and have had a great life SkyBridge has had good performance. It & Co. In 2016, Scaramucci was experience after having come from a is a unique platform because we’ve democra- ranked #85 in Worth magazine’s Power 100: The blue-collar neighborhood. This is the defi nition tized large aspects of the hedge fund industry. 100 Most Powerful People in Global Finance. In of the American dream. For me, it has been a phenomenally rewarding 2011, he received Ernst & Young’s “Entrepreneur Unfortunately, in our country, you have experience. We’re launching new products and Of The Year® – New York” Award in the Financial to sell your business to go serve the president I would say that fi ve years from now, if things Services category. He is a member of the Council on so that’s how the whole sale came about, but go our way, our business will be at least twice Foreign Relations (CFR), vice chair of the Kennedy I never really wanted to sell SkyBridge and I its current size. Center Corporate Fund Board, a board member of How deeply are you engaged in The Brain Tumor Foundation and Business SkyBridge’s business today? Executives for National Security (BENS), and a I’m as involved in SkyBridge today as I Trustee of the United States Olympic & Paralympic was the day I started it, but I know my lane. I Foundation. He was a member of the New York think everybody has a different leadership skill. City Financial Services Advisory Committee from I think books that impacted me were things like 2007 to 2012. In November 2016, he was named Lincoln on Leadership by Douglas Phillips or to President-Elect Trump’s 16-person Presidential The Servant Leader. Transition Team Executive Committee. In June I’m the type of guy who doesn’t believe in 2017, he was named the Chief Strategy Offi cer SkyBridge has had autocracy. I believe in a hub and spoke system, of the EXIM Bank. He served as the White House so I have a great investment management team. Communications Director for a period in July good performance. It I never tell them what to do. They have full 2017. Scaramucci holds a B.A. degree in econom- autonomy, but they do report to me and we do ics from Tufts University and a J.D. from Harvard interact and I do offer them my services. Law School. is a unique platform I’ve got a great SALT team. They’ve built an amazing brand in the conference space. They FIRM BRIEF SkyBridge Capital (skybridge.com) will come to me for editorial ideas. They will is a global investment fi rm with approximately because we’ve come to me for suggestions or to ask me to $9.5 billion in assets under management or pitch somebody to speak or sponsor the event advisement as of July 30, 2019. The fi rm offers but, at the end of the day, it’s their business. hedge fund investing solutions that address a democratized large So, I’ve given them a great deal of latitude and wide range of market participants from indi- autonomy. vidual investors to large institutions. SkyBridge aspects of the hedge When you founded SALT, did you know takes a high-conviction approach to alpha gen- that it had the potential to grow to where it eration, expressed through a thematic and is today? opportunistic investment style. The fi rm manages fund industry. There are a lot of entrepreneurs who read multi-strategy funds of hedge funds and custom- your magazine and they will know what I’m ized separate account portfolios, and provides about to say is 100 percent true if they’re being hedge fund advisory services. SkyBridge also brutally honest. produces a large annual conference in the U.S. A lot of your success in life is providential. and Asia known as the SkyBridge Alternatives There’s a great line about entrepreneurs – you Conference (SALT). Headquartered in New York, run off a cliff, and as you’re descending, you’re the fi rm also has a presence in Seoul, London trying to build an airplane to escape the fall. and Palm Beach. That’s what entrepreneurs do. 100 LEADERS POSTED WITH PERMISSION. COPYRIGHT © 2019 LEADERS MAGAZINE, LLC VOLUME 42, NUMBER 4 There’s a great line about entrepreneurs – you run off a cliff, and as you’re descending, you’re trying to build an airplane to escape the fall. That’s what entrepreneurs do.

SALT was exactly that. We were dying in What have been the keys to attracting My attitude is that I’m just going to be me. the 2008/2009 fi nancial crisis and we knew we and retaining top talent at SkyBridge? My grandmother used to say, “What other peo- needed something, so we decided that we were You have to take care of your people. ple think of you is none of your business, so going to hold a conference. The fi nancial crisis Never take the last dollar for yourself. This is just go live what you think is your truth and was literally rocking our world. I’m a gallows an open-door system. I believe in a slap-up, your dream.” humor kind of guy so I was calling SkyBridge kiss-down culture. What does this mean? There Never was that more true than after I got the “bridge to nowhere.” are some fi rms that I’ve seen where everyone’s bounced out of the White House because it was Once all the big banks left the confer- kissing up to the boss and then they’re slapping pretty humiliating. ence space and were not doing conferences down subordinates. That doesn’t fl y with a guy I’ve heard it all. Anybody that tells you that in Las Vegas because of government pressure, like me. it doesn’t bother them, they’re also telling a fi b. we fi lled in the vacuum that was created. We Does the attention you get in the press Of course, I read some stuff that was painful. I exploited that. bother you, especially when some if it is read some stuff and said, “Okay, wow, he may We didn’t realize we had something in the not correct? be right.” beginning, but once we realized what we had, Here’s the thing – you learn about your- So, yes, it is painful sometimes. I’m not going we decided to blow this thing out and do it as self. When you’re involved with the press and to say otherwise. But it’s usually only painful when big as we could. you’re toppled or demolished, you learn a lot I know what the person is saying is true. Here’s the other thing. I’m a collaborator, about yourself. I guess I’m sort of lucky because Are you able to take moments to refl ect not a competitor. Michael Milken was our fi rst we all have different genes and makeups, but and appreciate what you have built? keynote speaker. He spoke at our 10-year anni- I think God left out the self-conscious gene for I don’t want to be complacent and I don’t versary event and we’ll never put our conference a guy like me. want to pat myself on the back, but I also want before his conference because I have enormous to tell you that the happiest people I meet are respect for him and what he has done. He has the ones that come at life from a point of view arguably the largest, most successful conference of gratitude and appreciation. I wake up in the in the United States. We’re in a different lane. morning and say, “My God, I’m a very lucky per- There are elements of entertainment at our con- son.” My parents loved me, were hard-working, ference. There are elements of politics at our a little tight on money – not a big deal – you conference and, obviously, there is a focus on My attitude is that I’m learn that you don’t really need a lot of money. alternative investment management. That’s the other irony in life. When you My point is, and I think it’s a point that become wealthy, you can catch a fever. You people really need to understand, there’s room just going to be me. have to be very careful because the fever can for everybody at the table. This is a very abun- become like a measuring contest with other dant world and we can all be successful if we My grandmother used people – my house is bigger than your house or are trying to fi gure out ways to collaborate. my life has to be perceived as better than yours. What opportunities do you see for That’s actually a bunch of nonsense. You growing SALT? to say, “What other can’t live your life like that. So, for me, I wake We have done 10 SALTs in the United up in the morning and say “Wow, I’m very States and we have done three SALTs outside of lucky, I’m very grateful.” But I also don’t wake the United States – two in Singapore and one people think of you is up complacent. I’m not resting on my laurels. in Tokyo. Those conferences were amazing for With all of the challenges and issues business because the people in Singapore didn’t facing the country, are you optimistic about know who we were. Now they know who we none of your business, the future? are and we raised money from there. We raised You can’t be pessimistic about the future money in Northern Asia, Korea and Japan as a so just go live what because, even though Washington has gotten so result of those events. much wrong, America has gotten so much right. Now that I’m back, we’ve decided to do The great irony is that we created such a free a conference in Abu Dhabi. The Middle East you think is your truth market foundation to our system. We have all and North Africa are fast-growing regions eco- this great microeconomic activity that continues nomically and have tremendous geopolitical rel- to innovate and build the system. evance as well. We wanted to continue building and your dream.” People are worried about healthcare going relationships there and expose our partners to to 35 percent of the GDP, but it’s not going to exciting opportunities in these regions. We think happen because there is so much innovation Abu Dhabi will continue to grow as an interna- that is reducing costs, improving effi ciency and tional fi nancial center and are looking forward making healthcare better. to hosting SALT at the iconic Emirates Palace. You have to bet on human innovation.• VOLUME 42, NUMBER 4 POSTED WITH PERMISSION. COPYRIGHT © 2019 LEADERS MAGAZINE, LLC LEADERS 101