A top adviser to President-elect Donald Trump sold his hedge fund on Tuesday to a company run by a former top aide to President Barack Obama.
New York financier Anthony Scaramucci, who is in line for an advisory post in the Trump administration, announced the sale of his SkyBridge Capital on Tueday to a pair of companies, RON Transatlantic Advisors and HNA Capital of New York.
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RON's executive team includes partner and vice president Reggie Love, Obama's personal aide during his time in the Senate and the White House.
Bloomberg News reported that the Washington D.C.-based RON already owned between 5 percent and 10 percent of SkyBridge, a "fund of funds" with roughly $12 billion under management.
Scaramucci referred questions to a SkyBridge spokesperson, who did not immediately respond. Efforts to reach Love were not successful.
Scaramucci revealed the SkyBridge sale during remarks at the World Economic Forum in Davos on Tuesday. He is expected to be a liaison between the Trump White House and both state and local governments and the business community.
Update 2:41 P.M.: A previous version of this article called Reggie Love and adviser to President Obama. He was an aide to the president.