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Smith Cove Capital
Smith Cove Capital was founded in 2016 by David Russekoff following the closure of Perry Capital's flagship funds, a defining event that ended one of Wall...
Smith Cove Capital
Smith Cove Capital was founded in 2016 by David Russekoff following the closure of Perry Capital's flagship funds, a defining event that ended one of Wall Street's notable distressed-debt franchises. Russekoff had served as Perry Capital's Chief Investment Officer until 2015. The transition from managing external institutional capital to a single-family office structure marked a shift in scale but preserved the investment playbook: the firm hired former Perry Capital colleagues including head of trading Bob Carroll and team members Chetan Gulati and Michael Baranski. The family office invests across hedge funds, private credit, distressed and turnaround situations, and secondaries. The firm's geographic focus is North America. Roger Schmitz, formerly of Monarch Alternative Capital, and Victor Consoli, previously with Perella Weinberg Partners, joined the investment team, reinforcing the distressed-credit and special-situations orientation. Bo T. L. Eriksen serves as a Partner focused on shipping and transportation investments and holds a board seat at Star Bulk Carriers Corp. The portfolio reflects the team's institutional heritage in complex, value-oriented credit and equity restructurings. The firm operates from Palm Beach, Florida. Russekoff and his family maintain residences in Greenwich, Connecticut, and Shelter Island, New York. The office does not publicly disclose AUM, deployment figures, or headcount. Organic team growth has drawn from Perry Capital and other hedge fund platforms, suggesting a lean, investment-led structure rather than a multi-strategy operating business. Smith Cove Capital's structural differentiator is its line-for-line continuity with Perry Capital's investment approach — it is a single-family office that functions internally like a specialized hedge fund. The team composition and deployment patterns suggest the office operates with institutional-grade sourcing and underwriting, repurposed for family capital. No adjacent vehicles, club memberships, or co-investor platforms have been disclosed publicly.
General information
Firm type
Single Family Office
Year founded
2016
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Palm Beach
Corporate office
Palm Beach, FL, United States
Principals
David Russekoff
Principal
Bo T. L. Eriksen
Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Smith Cove Capital?
David Russekoff, the firm's founder and principal, directs investment strategy. He previously served as Chief Investment Officer of Perry Capital, the distressed-debt hedge fund founded by Richard Perry. The investment team includes former Perry Capital colleagues and specialists like Bo T. L. Eriksen, who focuses on shipping and transportation investments.
How is Smith Cove Capital connected to Perry Capital?
David Russekoff was Perry Capital's CIO until 2015, and the hedge fund shut its flagship vehicles the following year. Smith Cove Capital launched in 2016 and hired multiple former Perry Capital employees, including head of trading Bob Carroll and team members Chetan Gulati and Michael Baranski. The family office effectively inherited a portion of Perry Capital's institutional knowledge and investment culture.
What does Smith Cove Capital invest in?
The firm deploys capital across distressed and turnaround situations, private credit, hedge funds, and secondaries and special situations. Its geographic focus is North America. The strategy reflects the team's institutional background in complex, event-driven credit and value-oriented restructurings.
Is Smith Cove Capital structured as a single family office?
Yes, it is a single-family office managing capital for the Russekoff family. It does not manage external capital or operate as a multi-family office. The investment approach, however, mirrors that of a specialized hedge fund, with a team drawn from institutional distressed-credit platforms.
Does Smith Cove Capital have offices outside the United States?
The firm's headquarters is in Palm Beach, Florida. Based on public record, team member Chetan Gulati was based in London as early as 2017, suggesting at least one international presence. No additional office locations beyond the Palm Beach headquarters have been formally disclosed.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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