Perry Capital, a hedge fund which oversees approximately $8 billion, is closing its Hong Kong office and will slash 30 positions internationally, Reuters reports. The New York-based firm is reducing exposure to Asia as it is seeking to focus on the U.S. and European markets.
The redundancies include all the 16 employees in the firm’s Hong Kong office, including Alp Ercil, a partner and the head of the firm’s Asia business. The company intends to trim its real estate and private equity operations and manage Asia exposure of its hedge funds from its New York and London offices.
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