Background
His father, Arnold, ran several firms. Two were a book publisher and a business-machine company.
His father, Arnold, ran several firms. Two were a book publisher and a business-machine company.
He attended the Allen-Stevenson School all-boys" private grade school in Manhattan and then high school at the Milton Academy in Milton, Massachusetts, graduating in 1973. During this time, Perry earned a Master of Business Administration at night from New York University"s Business School.
Perry"s mother, Merel, who, for a time ran a small import business, is sister to former Bear Stearns C.E.O. James Cayne. Perry received a Bachelor of Surgery degree from the Wharton School of the University of Pennsylvania in 1977. While at Penn his father cut off funds, forcing him to become a movie-theater usher at night.
He was eventually promoted to the chain manager.
After a summer internship he was hired by Goldman Sachs on an equity options trading desk. He soon moved to the famed equity-arbitrage desk at Goldman Sachs run by Robert Rubin.
During this time he was Rubin"s teaching assistant at New York University Stern and even babysat Rubin"s children. He eventually left to form Perry Capital in 1988.
Perry"s first major investment was Florists" Transworld Delivery (FTD), which Perry Capital acquired in 1994 for $130 million.
Among his actions was installing Meg Whitman as the C.E.O. In 2004, he sold his stake in the company for $450 million. In 2005, he was among the investors providing a loan of $512 million for Malcolm Glazer to purchase British football team Manchester United. In May 2012, Perry"s firm acquired ownership of Barneys.
Perry was the store"s biggest creditor and in the takeover reduced Barneys"s $590 million debt to $50 million.
lieutenant will have three seats on the seven-member board of directors, including former majority owner Istithmar World, new investor Yucaipa Companies, and Barneys"s current C.E.O. Mark Lee. From 2014, Perry Capital Limited Liability Company became a major shareholder in the ailing Cooperative Bank in Manchester, United Kingdom, with a seat on the Board.
