Hedge funder Anthony Scaramucci is reportedly headed back to Wall Street after a deal collapsed to sell the business he founded in 2005.
The former White House communications director — who resigned after just 10 days — is returning as co-managing partner to SkyBridge Capital, CNN Money reported, citing an unnamed source.
According to CNN, the firm failed to get federal regulators to sign off on a planned sale to the Chinese conglomerate HNA Group, and both mutually decided to terminate their agreement.
The proposed sale had triggered a review from the Committee on Foreign Investment in the United States, an inter-agency government committee that evaluates sales of U.S. businesses to foreign entities to determine the impact on national security, CNN reported.
Although the sale has been called off, CNN reported both are considering a potential marketing relationship under which HNA would distribute SkyBridge's hedge fund products in China.
Scaramucci left SkyBridge in January 2017 when the deal with the Chinese conglomerate was first announced.
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