Peter Carey Joins SkyBridge Capital as Managing Director and Head of SkyBridge Direct™

New York State Common Retirement Fund's Former Director of Absolute Return Strategies to Lead Firm's Institutional Hedge Fund Business

News provided by

SkyBridge Capital

Nov 08, 2010, 11:22 ET

NEW YORK, Nov. 8, 2010 /PRNewswire/ -- SkyBridge Capital (SkyBridge), a leading global alternative investment firm, today announced that Peter Carey, former director of Absolute Return Strategies for the New York State Common Retirement Fund, has joined as a managing director to lead SkyBridge Direct™, the firm's hedge fund solutions business for institutional investors.

Prior to joining SkyBridge, Mr. Carey led the successful restructuring of the New York Common Retirement Fund's $4 billion hedge fund portfolio. Under his direction, and amidst the market crisis of 2008 and a corruption scandal, the hedge fund investment portfolio was rebuilt to become recognized by Institutional Investor as "Large Public Pension Plan Investor of the Year in 2010."

"We are pleased that Peter has joined our team, adding his deep understanding of the unique investment challenges that face institutions as a complement to our comprehensive suite of hedge fund investing solutions," said Anthony Scaramucci, managing partner of SkyBridge.

Led by managing partners Anthony Scaramucci, Scott Prince and Ray Nolte, SkyBridge has expanded significantly in the past year with the acquisition of Citi's hedge fund group. SkyBridge currently manages or advises on approximately $7 billion in assets. Mr. Carey's institutional investment expertise will be a strong complement to SkyBridge's experienced team of investment professionals, which taps into a deep, well-established network of approved hedge fund managers to construct customized alternative portfolios.

Prior to joining the New York State Common Retirement Fund, Mr. Carey served in the institutional fixed income department at Bear Stearns. A graduate of the United States Military Academy at West Point, he served as an infantry officer in various positions of leadership at the battalion and company level. Mr. Carey holds an MBA in finance from the University of Southern California. He is a member of the Board of Advisors for the U.S. Military Academy endowment.

About SkyBridge Capital

Founded in 2005, SkyBridge Capital is a leading global alternative investment firm with a total of approximately $7 billion in assets under management or advisement. The firm provides investment management products, portfolio management and advisory services addressing every type of market participant. SkyBridge offers investment services across four business lines: Commingled Multi-Manager Fund Products, Custom Portfolios, Hedge Fund Seeding and Hedge Fund Advisory Services. Headquartered in New York, the firm also has an office in Zürich, Switzerland.

For more information, visit www.skybridgecapital.com.

SOURCE SkyBridge Capital