Now half its size, One East looks to start again
By Suzy Kenly Waite
Thu Feb 25, 2010
After losing its co-founder in December and shrinking from $2 billion to $350 million, One East is rebuilding.
When Perry Capital's Nathaniel Klipper and Sandell Asset
Management's Jim Cacioppo teamed up to launch One East Capital
Advisors with $450 million in July 2006, they grew the firm to
$2 billion in just two years. But One East has not lived up to
its early promise. Tumultuous markets and redemptions have
plagued the firm, which is now less than half of its original
size in terms of both assets under management and
In the first half of 2008, One East Partners, an event-driven
fund that invests in risk arbitrage, distressed debt and
event-equities, dropped 10.7%. In September 2008, the firm put
up gates and restricted how much investors could pull out of
the fund. Investors who opted to redeem on September 30,
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