SALT is off this year. Anthony Scaramucci’s
signature SkyBridge Alternatives (SALT) conference will not
take place in May, as scheduled, because his deal to sell his
stake in SkyBridge Capital to China’s HNA Group
has not yet been approved by the Committee on Foreign
Investment in the U.S.
Scaramucci, the founder of fund-of-hedge-funds firm
SkyBridge, told Bloomberg in an interview at the economic
conference in Davos, Switzerland that "the logistics around the
closing of the deal" led to the cancelling of the glitzy event.
Scaramucci sought the sale as a condition for joining President
Donald Trump’s administration, but in the end he
wasn’t offered the role as a liaison to the
business community. He then famously spent 10 days as
communications director before being fired following a
profanity-laced on-the-record interview with a reporter.
In the Bloomberg interview, Scaramucci said he would like to
retain some equity in SkyBridge if the deal goes through, and
play an active role at the firm. In fact, the Mooch predicted
SALT will return in 2019, stressing he will still own 51
percent of the conference business if the sale is completed. By
next year will anyone really care about SALT? In the past
couple years the Las Vegas event was losing its pizazz, at
least when it came to hedge fund speakers — as
Scaramucci has had trouble attracting the
indusry’s A list. Rather, it was more branded as
an alternative thinking conference, with fewer hedge fund
speakers than in the past.
Third Point Ventures led a $75 million round of financing
for PrecisionHawk, a provider of drone technology, according to
a company statement on January 24. "We see
the potential for PrecisionHawk to enable enterprises around
the world with new tools for 21st century opportunities,"
Robert Schwartz, managing partner of Third Point Ventures, said
in the statement. "We believe the business insight that can be
achieved with PrecisionHawk technology will be a catalyst for
profound transformation, and this investment gives us an
opportunity to support their growth and continued industry
leadership." Senator Investor Group was among the group of
investors, PrecisionHawk said.
Seth Klarman’s The Baupost Group is getting a
lot of heat for its nearly $1 billion position in Puerto
Rico’s debt. Activists and college students are
pressuring college endowments, including his alma mater Harvard
University, to shed their investments in the hedge fund giant,
asserting it is making the island’s recovery from
Hurricane Maria even more difficult, according to the Boston Globe.
"We want Harvard University to show that it values justice
rather than exploitation by divesting from Baupost unless it
cancels its Puerto Rican debt holdings," said Sam Heller, a
senior at Harvard who is a member of the college’s
Student Labor Action Movement, according to the report.
Activists were planning to protest at Harvard on Wednesday and
at Yale University on Thursday.
Elliott Management Corp. cut its stake in
cyber security software maker Imperva to 8.4 percent. The hedge
fund reduced its position by selling call options to
counterparties, according to a regulatory filing.