Hedge Funds

Chanos takes over Perry portfolio

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Kynikos Capital founder Jim Chanos has taken over managing the Kynikos Opportunity fund following the departure of Jeff Perry. Chanos had been co-managing with Perry the opportunistic long/short fund, which represented Kynikos' first foray into discretionary long/short investing.

Jim Chanos, Kynikos

Kynikos' flagship Ursus Partners makes only short bets, and its market-neutral Beta Hedge uses a quantitative model to select long investments to complement the short bets in Ursus.

Perry, who had previously worked for Zweig DiMenna and SAC Capital, seemed to have difficulty finding enough profitable trades. And, in March 2004, just two months after the