When Perry Capital announced that it was closing its doors in September 2016, in marked the end of an era. The firm had been in business for 28 years, establishing itself as one of the biggest names in the hedge fund industry. But in the years before the closure, investors had turned their back on the enterprise, with assets under management falling from a peak of $15.5 billion in October 2007 to $4 billion in 2016.
Co-founder Richard Perry and team's decision to shut up shop was, and to a certain extent still is, a reflection of the harsh environment facing...
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