SkyBridge Capital, founded by Anthony Scaramucci, has plans to launch an opportunity zone fund by the end of the year, according to media outlets.
SkyBridge Opportunity Zone Fund, which will be structured as a REIT, is looking to raise as much as $3 billion from investors, reported Business Insider. It will require a six-year commitment from investors and will invest across property types, such as apartments and offices, and in local infrastructure projects.
Scaramucci, a successful hedge fund operator and the Trump administration’s director of communications for 10 days, said in the Business Insider article, SkyBridge has identified $2 billion of pipeline projects, including real estate development and infrastructure projects. The fund will be subadvised by EJF Capital, a $10 billion hedge fund.
