Hedge Funds

Perry Capital to close its main hedge funds after nearly 30 years

Perry: Timing for success too unpredictable

Perry Capital, the hedge fund firm founded by Richard Perry and Paul Leff in 1988, plans to wind down its main hedge funds, according to a letter sent to investors Monday and seen by Reuters.

"Although I continue to believe very strongly in our investments, process and team, the industry and market headwinds against us have been strong, and the timing for success in our positions too unpredictable," Richard Perry wrote in the letter.

A spokesman for the New York-based firm did not immediately respond to a request for comment.

This story is developing. Please check back for further updates.