Perry's Leff Steps Back

Jan 15 2014 | 11:30am ET

Perry Capital co-founder Paul Leff has stepped back from day-to-day management of the hedge fund.

Leff has given up his role as co-chief investment officer at the firm, CNBC reports. David Russekoff, who has served as Leff's co-CIO since 2012, is now Perry's sole investment chief.

Leff, who helped found the firm with Richard Perry in 1988, is now vice chairman of the $8.9 billion New York-based hedge fund.

It is unclear why Leff—who handled structured credit and overall portfolio construction at Perry—has stepped back. CNBC speculates it might be to give him more time to focus on the Oakland Raiders, the National Football League franchise which Leff, along with former Perry managing director Dan Goldring and Abrams Capital's David Abrams, owns 20% of.

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