It’s open season not only for razzing hedge funds, but also for buying them, it seems. Perella Weinberg Partners, the new firm launched earlier this year by Joseph Perella and Peter Weinberg, is reportedly looking to use some $800 million put aside for its investment business to gobble up some hedge funds, according to Financial News. The paper reports that Rod Parsley, a HF sage from Terrapin Asset Management, has hopped aboard the Perella express as its first hedge fund manager to join as a partner and as head of its HF business. The plan, reports FN, is to acquire a number of hedge funds in panoply of strategies. One of those being targeted, according to the paper, is Gabriel Capital, based in HF hot spot Beaverton, Ore., but that firm would not discuss it. Parsley, who ran a $50 million water fund at Terrapin, will be working with the heads of Perella’s asset management business, Tarek Meguid and William Kourakos. Meanwhile, Perella has gotten real, as in real estate, as it has tapped Leon Bressler of France’s Unibail to head an upcoming real estate fund, a joint venture with New York-based real estate firm Fisher Brothers.
