Hedge Funds

Kynikos set to raise $300m for Perry fund

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Short-selling legend Jim Chanos is preparing to diversify his business with the launch of an opportunistic long/short equity fund, called Kynikos Opportunity Fund. Early indications are that the new fund, which will be managed jointly by Chanos and Jeff Perry, has attracted well over the $300 million it is seeking for its launch in January.

Perry made his reputation as a star stock picker at a string of hedge funds including Zweig-DiMenna, SAC Capital Advisors, Junction Advisors and Kynikos itself, where he worked in the early 1990s. He will be taking the lead in running the new fund.

Kynikos'