and staff changes under its two portfolio managers. But he highlighted that the fund had its best second quarter – up 6.49% – since 2012.
With the recommendation to sell, Merrill Lynch's clients currently invested in SkyBridge could be next to exit the firm's Series G fund, its main product that's geared toward wealthy individuals. SkyBridge managed $9.3 billion as of March 30. Scaramucci called the firms' relationship "yet another casualty of the pandemic," writing that the report "reflects a breakdown in communication" between the firms – one he didn't think would happen if executives had met in person.
His other complaints included issues with Merrill Lynch's assessment of the SkyBridge's due diligence, its secondary sales communication, and its Oaktree investment, among other issues.
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