Iconic hedge fund manager Perry Capital is reportedly closing its flagship fund
|09/26/2016||Posted by BusinessMediaguide.Com under General World News||
Perry Capital, an iconic hedge fund firm, is shutting its flagship fund after 28 years, according to Bloomberg News.
The fund has suffered from poor performance and a changing management structure.
Perry manages about $4 billion, down from $15 billion at its peak in 2007, Bloomberg’s Katherine Burton and Katia Porzecanski reported.
Earlier this year, the firm cut jobs following a round of investor redemptions, the FT reported. The flagship fund was down 12% last year.
David Russekoff became the firm’s CIO in 2014, but left last year amid the underperformance. He is starting his own hedge fund and is in read more >>>