SkyBridge Alternatives Conference explained

SALT
Location:New York City, New York, U.S.
First:2009
Founders:Anthony Scaramucci
Dates:May
Frequency:Annual
Genre:Conference
Sponsor:SkyBridge Capital[1]

The SkyBridge Alternatives Conference (often stylized SALT or SALT iConnections) is an annual hedge fund conference sponsored by SkyBridge Capital that started in 2009. The world's largest hedge fund conference, it is considered by The New York Times to be "one of Wall Street's most prominent gatherings"[2] and by Reuters to be a flagship conference for Wall Street. Traditionally held in Las Vegas, Nevada, the conference moved to New York City in 2021.[3] [4] The conference is known for hosting talks by "high-profile market experts, politicians and show business personalities".[5]

History

Founded in 2009 by Anthony Scaramucci, SALT has evolved into a three-day conference[6] that initially caused his rise to fame.[7] The inaugural conference took place in May 2009 in the ballroom of the Encore Las Vegas.[8]

The 2012 conference featured a performance by Maroon 5 and speeches by Al Gore and Sarah Palin.[9] That same year saw the launch of SALT Singapore,[10] which was later rebranded SALT Asia. By 2014, SALT Asia was reported to attract approximately half as many attendees as its larger Las Vegas counterpart.[11]

In 2017, the attempted sale of SkyBridge Capital to HNA Group resulted in the SALT conference being spun off into its own entity[12] and Scaramucci's divestiture to join then-President Donald Trump's administration.[13] Eleven days after his hiring, he was fired by Trump and returned to SALT. The proposed sale, which caused a hiatus in 2018,[14] did not complete, with HNA Group withdrawing its bid.

Starting with the 2019 conference, the conference's focus shifted from being predominantly hedge fund focused to attracting wider audiences. It features world leaders, after-hours parties, and a concert. The 2019 conference included a performance by John Fogerty. Speaking with Reuters in 2019, which noted how the conference was more subdued than in previous years without a party atmosphere, Scaramucci stated "What we are trying to do is very sober".[15] The conference experienced its second-highest attendance that year, with attendees interviewed by Reuters appreicating "the faster-paced program" and "subdued tone", which they felt "was more appropriate for the current times"

The 2023 conference featured an interview with Dr. Garry Nolan about Unidentified flying objects which was hosted by SALT managing partner Alex Klokus.[16] [17] Klokus hosted another object discussion with retired Lieutenant colonel Karl Nell, a former member of the Unidentified Aerial Phenomena Task Force, at the 2024 conference.[18] [19]

Attendance

The largest hedge fund conference in the world,[20] SALT was referred to by journalist Lawrence Delevingne in 2014 as "the Super Bowl of hedge funds".[11] [21] As of 2018, SALT has averaged 1,800 attendees and hosted former US Presidents Bill Clinton and George Bush.

Notes and References

  1. News: Kokalitcheva . Kia . September 19, 2022 . Crypto gets top billing at SkyBridge SALT event amid market 'winter' . . June 2, 2024.
  2. News: de la Merced . Michael J. . 2017-01-17 . Trump Aide Scaramucci Sells Investment Business to Chinese Consortium . 2024-06-02 . . en-US . 0362-4331.
  3. News: Herbst-Bayliss . Svea . September 15, 2021 . Flagship Wall St conference sees record attendance, run on steak . . June 1, 2024.
  4. News: Velati . Alyson . That's hot: Paris Hilton and Steve Cohen expected at Anthony Scaramucci's SALT, as hedge funds celebrate their comeback at one of the industry's biggest conferences . . 2024-06-02 . en-US.
  5. News: Cox . Jeff . 2017-01-17 . Trump adviser Scaramucci sells his hedge fund business . . 2024-06-02 . en.
  6. News: Levy . Rachael . Hedge Funds No Longer Stars of Their Flashiest Conference . 2024-06-02 . The Wall Street Journal . en-US.
  7. News: Abu Omar . Abeer . 2024-02-29 . Scaramucci's SkyBridge Jumps 16% This Year as Bitcoin Rallies - BNN Bloomberg . 2024-06-02 . BNN Bloomberg . Bloomberg News.
  8. Web site: Scaramucci . Anthony . Anthony Scaramucci . October 24, 2016 . How Anthony Scaramucci 'Hopped Over the Rabbit Hole' . 2024-06-02 . Fortune . en.
  9. News: Pressler . Jessica . 2012-05-04 . How Anthony Scaramucci Attracts Clients -- New York Magazine - Nymag . 2024-06-02 . New York Magazine . en.
  10. News: Yamazaki . Tomoko . October 16, 2012 . Scaramucci to Raise Hedge-Fund Bets in Asia With SALT . June 2, 2024 . Bloomberg.
  11. News: Delevingne . Lawrence . 2014-03-18 . Hedge fund showcase event SALT looks to exit Singapore . 2024-06-02 . CNBC . en.
  12. News: Stevenson . Alexandra . 2017-05-19 . Anthony Scaramucci, Hedge Fund Showman, Finds Himself in Limbo . 2024-06-02 . The New York Times . en-US . 0362-4331.
  13. News: Beilfuss . Lisa . SkyBridge Capital Founder, an Adviser to Donald Trump, to Exit Business . 2024-06-02 . The Wall Street Journal . en-US.
  14. News: Herbst-Bayliss . Svea . Delevingne . Lawrence . January 24, 2018 . Scaramucci hits pause button on Las Vegas hedge fund party . June 2, 2024 . Reuters.
  15. News: Herbst-Bayliss . Svea . May 9, 2019 . Scaramucci celebrates hedge funds in Vegas at SALT with less glitz . June 2, 2024 . Reuters.
  16. Web site: Stanford Professor Says Aliens Are '100%' Living Among Us 98.1 The Breeze . 2024-05-17 . The Morning Breeze w/ Carolyn McArdle & Cort Johnson . en.
  17. News: Chung . Frank . May 20, 2023 . Stanford professor says aliens are '100 per cent' on earth, US is 'reverse-engineering downed UFOs' . June 1, 2024 . News.com.au.
  18. Web site: Whiteside . Steph . Coulthart . Ross . 2024-05-30 . Aliens are interacting with humans: Ret. Army Col. . 2024-06-02 . . en-US.
  19. News: May 31, 2024 . Excoronel de EE UU: «La inteligencia extraterrestre existe e interactúa con la humanidad» . live . https://web.archive.org/web/20240531122959/https://www.elnacional.com/mundo/excoronel-de-ee-uu-la-inteligencia-extraterrestre-existe-e-interactua-con-la-humanidad/ . May 31, 2024 . June 1, 2024 . . ES.
  20. News: Fortado . Lindsay . July 26, 2017 . 'Relax, Scaramucci isn't touching your money' . 2024-06-02 . The Financial Times.
  21. News: Stevenson . Alexandra . 2016-06-17 . A Who's Who of Financiers Is Expected at Trump's New York Fund-Raiser . 2024-06-02 . The New York Times . en-US . 0362-4331.

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