Schonfeld-Backed Perbak Closing Hedge Fund After ‘Too-Short’ Run

Perbak Capital Partners, a UK-based hedge fund backed by Schonfeld Strategic Advisors, is winding down after determining its assets haven’t grown enough to maintain a “significant financial buffer” to protect the business.

Perbak ran two short-focused equity funds and managed about $1.1 billion of assets, including money for Schonfeld, according to people familiar with the matter, who asked not to be identified because the information is private.