Monday, 20 October 2014
Last updated 3 hours ago
Oct 21 2011 | 9:36am ET
Perry Capital, the distressed assets specialist founded by Goldman Sachs vet Richard C. Perry, has cut staff and is closing its Hong Kong office, reports DealBook, citing two people with knowledge of the situation.
The firm is reported to have chopped 30 portfolio managers and analysts and three partners, including partner Alp Ercil, the head of the firm’s Asian operations and partners George Brokaw and Andy Isikoff, who focused on private equity and real estate investments.
In a letter to investors—an excerpt of which was seen by DealBook—the firm said it had “undertaken a strategic evaluation of our business and identified our strengths and weaknesses. There will likely be attractive, less liquid opportunities in both the U.S. and Europe going forward, and our core team is positioned to source and execute these deals.”
Perry Capital was founded in 1988.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...