- Over a year after the ban on hedge fund advertising was lifted, New York-based SkyBridge Capital is one of the first to take the plunge.
- Competitors—including large private equity firms and hedge funds—have been slow to try out advertising because the SEC requires additional information on the fund and investor base.
- SkyBridge is sponsoring a bike-share program in West Palm Beach, FL, called—SkyBikeWPB—that will bear the SkyBridge name starting later this spring. The company recently opened an office in nearby Palm Beach Gardens.
It's a scary position to be the first to dive into uncharted waters, but SkyBridge has been experimenting with different promotional tools for a while. It doesn't hurt that founder Anthony Scaramucci is a TV personality, having done stints at CNBC and now Fox Business. If SkyBridge is able to avoid too much scrutiny from the SEC, other hedge funds will likely follow suit.