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Perot’s Parkcentral Fund Closes as Credit Freezes

Parkcentral Capital Management LP, an investment firm that manages money for the family of former U.S. presidential candidate H. Ross Pero, is liquidating a fixed-income hedge fund because it’s “no longer viable.”Parkcentral Global Hub Ltd.’s assets fell as much as 40 percent to $1.5 billion this year through October. The fund is selling remaining holdings to pay creditors, Eddie Reeves, a spokesman for the Plano, Texas-based firm, said in an e-mailed statement today. Perot, 78, who ran unsuccessfully for U.S. president in 1992, and members of his family are the fund’s biggest investors.

The bankruptcy of Lehman Brothers Holdings Inc. in September triggered a selloff in corporate bonds as investors fled any holding with a hint of risk. Fixed-income hedge funds lost 17 percent this year through October, according to data compiled by Chicago-based Hedge Fund Research Inc.

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