Perry’s Retreat Piles Pressure on Hedge Funds Chasing Deals

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  • Investors pull $31 billion from event-driven hedge funds
  • Returns from deals-focused money managers lag industry peers

Ellis: Active Management Has Been Incredibly Hard Work

Hedge fund veteran Richard Perry’s decision to quit after almost three decades betting on the success or failure of mergers and acquisitions couldn’t have come at a worse time for money managers following comparable strategies.

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