'The Mooch' is back in the hedge fund business after White House whirlwind with Trump

Chicago Tribune Finance 1 month ago

MIAMI After a 10-day stint as the White House communications director in 2017, Anthony "The Mooch" Scaramucci returned to hedge funds and, as of 2018, Opportunity Zones.

South Florida will have the chance to learn more about his investment insights in October.

The Commercial Real Estate Development Association's South Florida Chapter (NAIOP) will host the former former aide to President Trump at the Ritz-Carlton Fort Lauderdale. He will talk trade, the economy and global markets.

Scaramucci continues to oversee SkyBridge Capital as managing partner, an investment hedge fund firm he started in 2005. Last year, his team launched the SkyBridge Opportunity Zone Real Estate Investment Trust in which his team aimed to raise $3 billion from investors willing to invest in a variety of real estate projects.

Over email, "The Mooch" shared his thoughts on South Florida's real estate.

Q: Why are you coming to South Florida?

South Florida is a booming economy and vibrant community due to smart decisions by state and local leaders that have made it a great place to live and do business. Combine with the always-nice weather, and why wouldn't I want to visit!

Q: You have extensive international experience. In your mind, how does South Florida stack up against other world markets, both in terms of residential and commercial?

South Florida is second to none in terms of residential and commercial markets. Business friendly policies have created a capitalistic environment where people can thrive both personally and professionally, which is a reason why people from around the world flock to the area.

Q: What are your predictions for South Florida's commercial and residential markets for the next two years?

Given the recent tax reform, people will continue to flock to South Florida. Being a New Yorker, I see first-hand the migration taking place down south, most commonly to South Florida. Some of my good friends in the financial industry, including David Tepper and Carl Icahn, moved their company headquarters down to Florida recently and the trend will continue. The growth of the South Florida financial ecosystem will be very positive for commercial and residential markets.

Q: Are you investing in South Florida now? If not, what tempts you, and why?

We don't currently have any direct investments in Florida, but the MBS funds we invest in have exposure to the area. We opened an office in Palm Beach several years ago and continue to monitor opportunities in South Florida as we expand our real estate operations.

Q: While your time in the White House was brief, it was surely interesting. Did it have any influence on your business views or strategies? If so, what and how?

Yes, it made me not want to work in politics. The stakes are so small in Washington people jockeying for incrementally more power and fighting over things like committee appointments that nobody has an incentive to find common ground. In business, we are fighting over a big pie so I make deals all the time with people who I may not like personally. Seeing the sclerosis of big government bureaucracies in Washington also gave me a newfound appreciation for federalism and the great policy-making of leaders in places like Florida.

(c)2019 Miami Herald

Visit Miami Herald at www.miamiherald.com

Distributed by Tribune Content Agency, LLC.

Source link
Read also:
Business Insider › Finance › 4 days ago
Hedge funds are not always known for their transparency, even with their own investors, but side industries have popped up offering investors hedge fund-like strategies in a more open wrapper. Some asset managers are pinning their hopes on growth in...
Business Insider › Finance › 1 month ago
Billionaire hedge-fund founder Ray Dalio loves answering questions. Dalio held a LinkedIn AMA session on Monday, opening up about his work principles, which he honed after founding the world's largest hedge-fund, Bridgewater Associates. Users also...
Business Insider › Finance › 1 month ago
BlueMountain is winding down its 16-year-old flagship fund, the $2.5 billion BlueMountain Credit Alternatives fund, to focus on its CLO business for its new corporate owner, Assured Guaranty. BlueMountain co-founder Stephen Siderow will also leave the...
Business Insider › Finance › 1 month ago
Former Soros Fund Management distressed debt head Courtney Carson has gotten $300 million from Jonathan Soros' JS Capital for his new hedge fund, Hein Park, sources tell Business Insider. Carson left Soros Fund Management in May, one of a dozen money...
New York Post › Finance › 2 weeks ago
The nation’s dominant maker of smartphone screen protectors may soon need to shield itself against a hedge fund demanding a sale. Zagg, which makes protective covers for iPhones, Android phones and other devices, has been put on notice by a hedge...
Business Insider › Finance › 2 weeks ago
Elliott's $3.2 billion stake in AT&T has pushed the telecom giant to add two new board members and split the chairman and CEO roles for Randall Stephenson's successor. The influential hedge fund is not done, though. Sources tell Business Insider that...
Business Insider › Finance › 1 month ago
AT&T announced on Wednesday it plans to sell its Puerto Rico and US Virgin Islands business to Liberty Latin America for almost $2 billion. The sale is part of an ongoing effort by AT&T to sell-off non-core assets, which activist hedge fund Elliott...
Business Insider › Finance › 1 month ago
The latest campaign for Wall Street hedge fund Elliott Management is a big one, taking on well-known American staple AT&T. The man in charge of pushing the massive company to make the changes the $38 billion fund sees fit is 39-year-old Jesse Cohn...
Business Insider › Finance › 3 weeks ago
ExodusPoint lost its head of data strategy Chris Petrescu last week, sources tell Business Insider. Petrescu was in charge of finding alternative datasets for the hedge fund's portfolio managers to use, and was a frequent panelist at data conferences...
The Wall Street Journal › 2 weeks ago
A Hong Kong hedge-fund firm has sued billionaire financier Ronald Perelman and the gaming company he chairs, alleging they raised concerns about the firm to regulators in a bid to force it to sell back its stake in the gambling company at a steep...
Sign In

Sign in to follow sources and tags you love, and get personalized stories.

Continue with Google