SkyBridge Capital, LLC Raises Capital to Seed New Hedge Funds

NEW YORK, Feb. 22 2006 -- SkyBridge Capital, LLC, which provides strategic capital to talented managers who are developing new hedge funds, announced that it has completed the initial closing of its first fund, SkyBridge Capital Partners, L.P., and its related fund, SkyBridge Capital (Cayman) Ltd.

In addition to providing promising hedge fund managers with stable, long-term capital, SkyBridge Capital's professionals will seek to enhance investments in underlying funds by providing business-building support as well as investment guidance and advice. 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.

SkyBridge Capital intends to build a portfolio of funds with varying styles, strategies and geographic focus. In separate announcements made today, the firm reported that it had made strategic investments in the following two managers:

Brompton Cross Capital Advisers LLC, a long/short global equity hedge
fund with a focus on the technology, media and telecommunications (TMT)
sectors. Brompton Cross CEO & Portfolio Manager Storm Boswick has been
covering the TMT space since 1994 at firms including Goldman, Sachs &
Co., J&W Seligman & Co. and Sigma Capital, a subsidiary of SAC Capital.
Mr. Boswick leads a team of seasoned TMT investment professionals, who
have helped managed more than $10 billion at world-class asset
management firms.

Westport Capital Partners LLC, which opportunistically invests globally
in both real estate properties and public and private securities in the
real estate sector. The principals of Westport Capital have an average
of 20 years of industry experience and have strong backgrounds in both
valuing real estate opportunities and structuring investments. Led by
Managing Partner Russel S. Bernard, the team has worked together for
more than a decade, most recently managing over $2 billion of assets at
Oaktree Capital Management.

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. MSD Capital has made a substantial investment in the fund as a limited partner and has entered into a long-term strategic relationship with SkyBridge, including having its Managing Partners serve as members of an advisory committee that provides advice and support to SkyBridge Capital. In addition, SkyBridge Capital has attracted an exceptional base of institutional and individual investors from North America, Europe and the Middle East.

Mr. Scaramucci, Managing Member of SkyBridge Capital, said, "The first closing of our fund represents an important milestone in executing our strategy of building the world's leading firm dedicated to growing promising hedge funds. We believe that, as the hedge fund industry evolves, the most talented early-stage managers will partner only with those who provide valuable strategic guidance and not simply seed capital. We have structured SkyBridge to be such a strategic partner, and are now identifying accomplished money managers who have the ambition and temperament to create and manage scalable businesses. From our investors' point of view, we offer a special ownership model for participating in the continued growth of the hedge fund industry."

Mr. Klein, Managing Member of SkyBridge Capital, said, "Driven by greater institutional allocations and continued demand by high-net-worth investors, total hedge fund assets have been projected to grow dramatically over the next several years. Nevertheless, many top managers are at full capacity and are closed to new capital, and investors have difficulty sourcing quality managers. We believe our proprietary process for evaluating managers, which is complemented by the capabilities of our strategic partners, positions SkyBridge well to identify exceptional investment opportunities."

About SkyBridge's Managing Members

In 1996, Anthony Scaramucci co-founded Oscar Capital, which was acquired in 2001 by Neuberger Berman after building a managed account business and four hedge funds having in aggregate more than $800 million of assets. After Lehman Brothers acquired Neuberger Berman in 2003, Mr. Scaramucci served as a managing director responsible for marketing Neuberger Berman's private asset portfolio managers through Lehman Brothers' private client group. He also served on the investment committee for the Neuberger Berman Premier Portfolio, which is an actively traded, research-based portfolio that was marketed through Fidelity Investments. Mr. Scaramucci worked at Goldman Sachs from 1989 to 1996.

In 2002, Andrew Klein co-founded Soleil Securities Group, an incubator and aggregator of independent research boutiques. In 1996, he founded investment bank Wit Capital Group, which pioneered the use of the Internet in public offerings. Wit Capital Group acquired SoundView Technology Group after gaining Goldman Sachs as a strategic shareholder and going public in 1999. The company was purchased by Charles Schwab in 2003. Mr. Klein started his career practicing securities law at Cravath, Swaine & Moore from 1987 to 1992.

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