HNA to buy ma­jor­ity of SkyBridge Cap­i­tal

China Daily (Canada) - - NEWS CAPSULE -

HNA Group is ex­pand­ing its port­fo­lio in the global as­set man­age­ment busi­ness by ac­quir­ing a ma­jor­ity stake in SkyBridge Cap­i­tal, an al­ter­na­tive in­vest­ment firm founded by Don­ald Trump ad­viser An­thony Scara­mucci.

SkyBridge, a lead­ing New York-based global al­ter­na­tive in­vest­ment firm, an­nounced that it has signed an agree­ment with HNA Cap­i­tal (US) Hold­ing and RON Transat­lantic EG to sell the ma­jor­ity of its shares.

The deal is ex­pected to close in the sec­ond quar­ter of 2017. The de­tailed fi­nan­cial trans­ac­tions were not dis­closed.

HNA, the par­ent of Hainan Air­lines Co Ltd, China's largest pri­vate airline, has strength­ened its global port­fo­lio with a string of overseas ac­qui­si­tions in avi­a­tion, lo­gis­tics and hos­pi­tal­ity busi­nesses.

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