SkyBridge Capital, LLC Makes Strategic Investment in Westport Capital Partners LLC.
NEW YORK and WESTPORT, Conn., Feb. 22 /PRNewswire/ -- SkyBridge Capital, LLC, which provides strategic capital to talented managers who are developing new hedge funds, and Westport Capital Partners LLC, which opportunistically invests globally in both real estate properties and public and private securities in the real estate sector, jointly announced that SkyBridge Capital will invest in Westport Capital from its SkyBridge Capital Partners, L.P. and SkyBridge Capital (Cayman) Ltd. funds.
In addition to providing Westport Capital's investment team with stable, long-term capital, SkyBridge Capital's professionals will seek to enhance its investment in Westport Capital by providing business-building support as well as investment guidance and advice.
Led by Managing Partner Russel S. Bernard, Westport Capital's principals average 20 years in the industry and have significant experience valuing real estate opportunities and structuring investments. The team has worked together for more than a decade and most recently managed over $2 billion of assets at Oaktree Capital Management, LLC. Over an 11-year period, Westport Capital's principals generated an exceptional investment record.
Westport Capital takes a fundamental, value-oriented approach to real estate investing. Professionals focus on distressed assets and turnaround situations, both domestically and internationally. It seeks to remain flexible in order to participate in compelling transactions across all capital structures in both private and public markets. Westport Capital takes a disciplined approach to risk management and utilizes reasonable amounts of leverage to generate returns in all market environments.
Mr. Scaramucci, Managing Member of SkyBridge Capital, said, "We are pleased to make a strategic investment in the Westport Capital team. Russ Bernard and his colleagues are extremely well respected in the real estate industry, where they have established an extraordinary track record of consistent returns in a variety of market cycles. They are exactly the type of money managers with whom we intend to make similar strategic investments in the future: experienced professionals who have the ambition and temperament to create and build exceptional businesses."
Mr. Bernard commented: "Receiving this strategic investment from SkyBridge Capital represents an important step for Westport Capital. They appreciate our investment strategy and are committed to providing us with not only capital, but also a range of business-building capabilities that will help us achieve our objectives as we seek to grow Westport Capital into a leader in opportunistic real estate investing."
Westport Capital's team of investment professionals includes: * Russel S. Bernard, Managing Partner. Mr. Bernard has over 22 years of real estate management and investment experience. At Oaktree Capital Management, where he spent 10 years, he oversaw more than $2 billion in real estate investments. Previously, he was portfolio manager of The Distressed Mortgage Fund at Trust Company of the West, and also served as a real estate portfolio manager at Win Properties, Inc., a national real estate investment company. * Sean F. Armstrong, CFA, Partner. Mr. Armstrong has more than 16 years of real estate brokerage and investment experience. At Oaktree Capital Management, where he spent 10 years, he managed investments in the firm's real estate portfolio. He previously was vice president in the special credits real estate group at TCW after serving as a high yield credit analyst. * Wm. Gregory Geiger, Partner. Mr. Geiger has more than 20 years of real estate consulting and investment experience. At Oaktree Capital Management, where he spent 10 years, he managed investments in the firm's real estate portfolio. Prior to Oaktree, he was vice president in the special credits real estate group at TCW. He previously held positions at real estate consulting firms Julien J. Studley, Inc. and Langdon Rieder Corporation. About SkyBridge Capital
SkyBridge Capital, LLC provides strategic capital to talented managers who are developing new hedge funds. The firm's team of experienced professionals, led by two accomplished financial services entrepreneurs, Anthony Scaramucci and Andrew Klein, coordinates a global network of partners in sourcing hedge fund managers from its headquarters in New York. At the end of 2005, SkyBridge Capital completed the initial closing of its SkyBridge Capital Partners, L.P. and SkyBridge Capital (Cayman) Ltd. funds. In addition to its strategic investment in Westport Capital, SkyBridge Capital has announced that it will make a similar investment in Brompton Cross Capital Advisers LLC, a long/short global equity hedge fund with a focus on the technology, media and telecommunications sectors. SkyBridge Capital also has a strategic relationship with MSD Capital, L.P., the New York-based private investment firm that exclusively manages the capital of Michael S. Dell and his family.
About Westport Capital Partners
Westport Capital Partners LLC, which currently maintains offices in Westport, CT and Los Angeles, CA, opportunistically invests in real estate properties as well as public and private securities globally.
Contacts: Business Media Jason Wright Todd Fogarty SkyBridge Capital, LLC Kekst and Company 527 Madison Avenue 212-521-4854 New York, NY 10022 email@example.com 646-840-5429 firstname.lastname@example.org
CONTACT: Business: Jason Wright of SkyBridge Capital, LLC, +1-646-840-5429, email@example.com; or Media: Todd Fogarty of Kekst and Company, +1-212-521-4854, firstname.lastname@example.org
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|Date:||Feb 22, 2006|
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