Sorry, haters, but SALT 2018 is off!
The annual confab of the hedge industry, the media that supports it, the famous people paid to speak to them and the middle-rung entertainment dragooned into performing at it will not take place in Las Vegas this year. The host with the mostest, a little-known financial figure named Anthony Scaramucci, is a bit too distracted to throw his party in 2018...
Anthony Scaramucci said he’d like to have a role again in the future of SkyBridge Capital, the fund-of-hedge-funds firm he founded, and scrapped plans to hold his flagship SALT conference in Las Vegas this year.
“If the sale goes through I would like to -- and I’ve talked to the HNA people about -- retaining some equity in the firm and being active in terms of trying to help the firm’s growth and prosperity,” he said Wednesday on Bloomberg TV from Davos, Switzerland. Scaramucci last year agreed to sell his stake in SkyBridge to a group including an American subsidiary of Chinese conglomerate HNA Group Co. The transaction is still awaiting approval from the Committee on Foreign Investment in the U.S.
The SkyBridge Alternatives Conference, the annual bash that made him a celebrity in the hedge fund world, won’t happen this year because of “the logistics around the closing of the deal,” Scaramucci told Erik Schatzker of BTV.
So, Steve Cohen will not play Russian roulette with Jeff Gundlach in a secret basement lounge at the Wynn whilst a 23-year-old Business Insider intern looks on in terrified bemusement and Lawrence Delevingne wonders "This again?" And there will be no chance to watch Neel Kashkari pretend to care about blockchain as he hits on Blythe Masters poolside at The Bellagio and Steve Eisman takes notes. And no one will be forced to pretend that the pasty weird guy sipping Strawberry daiquiris in the pool wearing a soaked white cotton t-shirt isn't Jeb Hensarling. And, sadly, there will be no chance for a bunch of tipsy power brokers in some windowless banquet hall to get caught in a preter-macho, kabuki fistfight by Charlie Gasparino.
But don't fret you guys, The Mooch is still down to have fun. He's just looking to do something a little more cerebral and (coincidentally) more China-focused...
Instead, he intends to take a group on a five-day trip to China for an event he’s calling the SALT Platinum Partners Experience. It will introduce participants to business leaders and entrepreneurs in cities including Shanghai and Beijing.
Judging from his interview with Bloomberg, The Mooch has a nice little itinerary planned. It won't be the kind of fun that SALT-goers might be used to, but things have changed and Anthony Scaramucci is nothing if not adaptable to the world around him.
Before some of you start blubbering about "The end of an era" please just fucking relax. Did you really think that a man who was the belle of the ball at Davos 2017 then had one of the most publicly humiliating years in modern history and still returned to Davos this year won't go back to being Desert Mooch?
Scaramucci said SALT will return to Las Vegas in 2019 and that he would continue to own 51 percent of the conference business if the sale proceeds.
Whether anyone from the Paul Ryan White House sends a speaker to SALT 2019, however, is a question best left to the fates.