New York-based hedge fund Perry Capital, which manages $8 billion AUM, is closing its Hong Kong offices and cutting staff globally, the New York Times reported.But what they don’t seem to be cutting back on (at least not yet) are their awesome perks.
For example, Perry Capital’s headquarters, located on Fifth Avenue with gorgeous Central Park views, have a chef on site who prepares “Perry Capital Salads” for the hedge fund’s employees.
Meanwhile, 30 portfolio managers and analysts and three partners have been cut along with the closing of the Hong Kong offices as the fund turns its focus toward Europe and the U.S, according to the New York Times.
Here’s an excerpt of Perry’s letter to investors. [via NYT]
“In an effort to best serve our investors, we have undertaken a strategic evaluation of our business and identified our strengths and weaknesses. There will likely be attractive, less liquid opportunities in both the U.S. and Europe going forward, and our core team is positioned to source and execute these deals.”
Like many other hedge funds who have suffered poor performance numbers, Perry is reportedly down 8% YTD as of the end of September amid increased market volatility and the ongoing eurozone debt crisis.
Richard Perry, a Goldman Sach veteran who was ranked the 962nd richest man in the world in 2008, founded Perry Capital more than two decades ago.
No word if any of the perks have been cut (we called – no answer), while the hedge fund axes some of its own employees.
Just some food for thought.
A spokesperson for Perry Capital could not immediately be reached at the time of this publication.
UPDATE: The previous image of the kitchen at Perry Capital we took down.