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 personnel.
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,
ISSN: 2151-1845 / CDC10004H
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