Launches & Closures Hedge Funds

Parkcentral alumni market new vehicle

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A pair of traders who recently left Parkcentral Capital Management, Ross Perot’s investment firm, are looking to raise money to start their own hedge fund.

The two traders, Michael Presley and John Sawyer, left the Plano, Tex., asset management firm in January, several months after Parkcentral Global Hub, the firm’s largest vehicle, shut down. Parkcentral Hub, a credit fund, got crushed as the credit markets froze up last fall, and its assets fell by at least 40% by yearend.

That meltdown has led to several lawsuits against the firm, which manages money for the Perot Family Trust. That trust is funded by Ross Perot, the two-time Presidential candidate