Perry Capital's last equity specialist has left the firm and may launch a hedge fund of his own.
Chet Kapoor's departure, along with his three-member team, leaves Perry without any portfolio managers focusing on stocks, part of a refocusing on credit, event-driven and value strategies. Kapoor's portfolio, which focused on technology, media and telecommunications, has been turned over to Perry's event-driven team, Hedge Fund Alert reports.
"We made the decision to go back to Perry Capital's investing roots by returning to our event-driven, deep-value hedged roots," firm founder Richard Perry told investors last week, announcing Kapoor's exit.
Kapoor had been named a partner of the firm just nine months ago. He left within the past few weeks, joined by fellow partner Mendel Hui, Byram Karanjia and Seth Basham.
Kapoor is now considering his options, among them launching a hedge fund or joining another firm.