Bloomberg article: Perry's Retreat Piles Pressure on Hedge Funds Chasing Deals

“It’s a sign of the dramatic changes in the investment environment that the kind of event driven strategies Perry was built on have become so difficult,” said Christopher Rossbach, who worked in Perry Corp.’s London office and is now chief investment officer at J. Stern & Co., a money manager based in London and Zurich. "Risk arbitrage is picking up pennies in front of a steamroller as Richard taught me. There are not enough of those deals to go around and too many risky ones that break and lose money."

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