Anthony Scaramucci
Anthony Scaramucci

Edelman represents SkyBridge Capital, hedge fund founded by 10-day White House communications director Anthony Scaramucci, as its takeover by China's HNA Group collapses after a 15-month courtship.

Financially troubled HNA, which has close ties with China's government, is withdrawing from the deal due to "uncertain timing of the approval process going forward."

The partners claim the Committee on Foreign Investment in the US did offer a "path to approval subject to certain mitigation measures."

Both parties though agreed that it was not in their business interests to pursue the transaction.

SkyBridge and HNA plan to explore offering Skybridge's offerings in China.

Scaramucci has returned to SkyBridge as co-managing partner with a focus on strategic planning and marketing.

Edelman's Lex Suvanto and Woomi Yun represent SkyBridge. HNA relies on Sard Verbinnen & Co.'s Robert Rendine and Brandon Messina.