Some of the Biggest Hedge Funds Are Bleeding Cash
- Institutional clients sour on industry after mediocre returns
- Perry Capital’s assets have plunged 60% since September 2015
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Some of the biggest and best-known hedge funds can’t hang on to client capital.
Richard Perry, who started his hedge fund 28 years ago, has seen assets in his Perry Capital shrink to $4 billion, from $10 billion last September. That 60 percent drop comes as the firm’s main fund fell 18 percent from the end of 2013 through July.