Perry makes back 2008 losses, eyes debt in 2010

It was a wild ride in 2009, but the obligation to pay off debt stands squarely in the path of a strong recovery, argues Perry.

Following its first losing year in two decades, Richard Perry’s $7 billion Perry Capital has nearly recouped all of its 2008 losses. The flagship multistrategy fund, Perry Partners International, gained 25.2% in 2009 after plummeting 26.8% in 2008. The firm attributes last year’s performance to clever credit investments, which powered the majority of its gains.

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