Perot Fixed-Income Hedge Fund Winds Up

Nov 25 2008 | 2:55pm ET

Former U.S. presidential candidate H. Ross Perot is hearing a new giant sucking sound.

Parkcentral Capital Management, the 1992 independent candidate’s family office, is liquidating a hedge fund burned by the credit crisis. Perot family members are the biggest investors in the six-year-old Parkcentral Global Hub fixed-income fund. Parkcentral Global’s assets are being sold off to pay the fund’s creditors, Eddie Reeves, a spokesman for the Plano, Texas-based firm wrote in an e-mail to investors today.

“Parkcentral Global has been impacted dramatically by the unprecedented upheaval of the capital markets in general and the freezing of credit markets in particular,” a spokesman for the. “The fund is no longer viable.”

Perot, who made his billions as founder of Electronic Data Systems, ran for president twice, winning 18.9% of the vote in 1992 and 8.8% in 1996. He is perhaps best-known for his quip that the United States would hear a “giant sucking sound” as American jobs moved to Mexico if the North American Free Trade Agreement went into effect.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...