SkyBridge Capital, a fund-of-funds run by Anthony “The Mooch” Scaramucci, has taken most of SkyBridge’s money out of embattled SAC Capital Advisors, Fox Business Network’s senior correspondent Charlie Gasparino Tweeted.
According to Gasparino, it’s up to SkyBridge investors to pull out the rest of the money, but Scaramucci expects them to do so.
Earlier today, the $14 billion Stamford, Connecticut-based hedge fund run by Steve Cohen was hit with a federal indictment on criminal charges of insider trading. Cohen was not charged or named explicitly in the indictment.
Moments later, SkyBridge’s Scaramucci called into CNBC’s “Halftime Report” to weigh in on the indictment. It wasn’t clear what SkyBridge was going to do about its money it has invested in SAC.
“So I think right now I think we just have to feel bad for the employees there and for the families associated with this. I have said long ago that if they have a case and it’s a substantial one, let’s bring it. Obviously, the presumption is still on innocence both for the firm and for Steve. That’s the way our criminal justice system works. But the government has that case. I hope Steve and his team will get the opportunity to say their side of the story as well. But as it relates to public policy and things like that, fraud is a terrible thing, and I hope to God that they will be innocent, but if they’re not, obviously we’ll do what’s prudent for our investors as everyone else would.”
Scaramucci, who has personal money invested with SAC, also defended Cohen.
“…at the end of the day, I like Steve. He’s a friend of mine. I have tried to teach my children and my employees and people around me you stick by your friends when they’re in trouble, and if he’s obviously done something wrong here, hopefully it gets settled very quickly,” Scaramucci said on CNBC via telephone from his vacation.
“I say to my other friends out there on Wall Street, you know, let’s not cut and run from people that we’ve been close to for a very long period of time,” he added later during the interview.
Here are Gasparino’s Tweets:
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