Kapoor, Perry's Last Stock Manager, Quits

Nov 17 2010 | 12:46pm ET

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.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...