| NEW YORK
NEW YORK SkyBridge Capital, the hedge fund investment firm founded by outspoken industry defender Anthony Scaramucci, is for sale, according to a person familiar with the situation.
Scaramucci, a fundraiser and adviser to President-elect Donald Trump, recently began an auction process for the New York-based firm as he considers potential roles in the Trump administration, according to the person, who requested anonymity because the information is private.
More than a dozen potential bidders, including wealth management and private equity firms, have signed non-disclosure agreements to review SkyBridge's financial results, the person said.
News of the potential sale was first reported by PE Hub.
SkyBridge had $11.8 billion in assets under management or advisement as of Oct. 31, 2016, down from $12.9 billion as of Dec. 31, 2015, according to firm's website.
Scaramucci, the firm's co-managing partner, did not respond to requests for comment. An external spokesman for SkyBridge declined to comment.
SkyBridge is best known for its funds of hedge funds, which have fallen out of favor with some investors in recent years because of their relatively high fees.
The SkyBridge Multi-Adviser Hedge Fund Portfolios LLC Series G fell 1.8 percent this year through November, according to performance information reviewed by Reuters. It also declined 3.6 percent in 2015.
Scaramucci is also known for organizing a major hedge fund conference each year in Las Vegas, known as SALT, and frequent appearances on television, especially Fox Business Network.
(Reporting by Lawrence Delevingne; Editing by Tom Brown)