Maurice “Chip” Perkins, co-founder of $4.5 billion hedge fund manager MKP Capital Management, is retiring at the end of the year.
Mr. Perkins recently focused on developing senior relationships with investors and counterparties, the firm said Thursday in a statement. Before starting MKP Capital in 1995 with Patrick McMahon and Eric Keiter, Mr. Perkins worked for 13 years at Salomon Brothers.
Mr. Keiter retired from MKP Capital in 2006.
Anoop Dhakad, a partner who has overseen the firm’s fundraising efforts since 2007, and Katherine Plavan, a managing director who joined in 2009, were promoted to lead the hedge fund firm’s investor relations worldwide, according to the statement. Their promotions are part of MKP Capital’s long-term succession plan, the firm said.
MKP Capital’s $2.8 billion credit hedge fund, profitable every year since it was started more than a decade ago, lost 4.8% in the first half of 2011 as bonds tied to U.S. real estate loans fell, according to an investor letter.