Bill Perkins
Perkins in 2015
Born (1969-02-02) February 2, 1969
Jersey City, New Jersey
Alma materUniversity of Iowa (BS)
Occupation(s)Hedge fund manager, film producer, poker player

William O. Perkins III (born February 2, 1969) is an American hedge fund manager, film producer, author, and high stakes poker player. Perkins manages Skylar Capital, an energy trading hedge fund that had approximately $500 million in assets under management as of 2023.[1]

Biography

Early life and education

Perkins grew up in Jersey City, New Jersey. His father, Bill Perkins, was a criminal defense attorney who served two terms in the New Jersey General Assembly and also played in four games as a running back for the New York Jets. His uncle was football player Don Perkins. His mother was a schoolteacher.[2] He graduated from St. Peter's Preparatory School in 1986. He received a B.S. in Electrical Engineering from the University of Iowa, his father's alma mater, where he was a walk-on defensive back for the Iowa Hawkeyes football team. He did not have good grades and quit playing football before his senior year to focus on graduating.[2]

Career

Energy trading

In 1991, Perkins became a trainee for a clerk on the New York Mercantile Exchange.[3] He received raises rather quickly.[4] In 1995, during the deregulation of the electricity market in Texas, he moved to Houston to run a trade derivatives and options desk.[4] He was employed as a trader and risk manager for El Paso Energy, Statoil, AIG Energy Trading, and Zahr Securities.[5]

In 1997, he founded Small Ventures USA, L.P. It was the lead investor in CUTUCO Energy, a project to build a liquefied natural gas facility and natural gas fueled power plant in El Salvador.[6]

In 2002, he joined his friend and former Enron trader John D. Arnold's new hedge fund, Centaurus Energy. He made $1 billion in trading profits for the firm, including taking the opposite side of trades that led to the collapse of Amaranth Advisors in 2006, making Arnold the youngest billionaire in the U.S. at age 33. Despite annual gains of over 100%, Centaurus shut down in 2012 due to low natural gas prices. Perkins, not ready to retire, then founded Skylar Capital, a fund to trade U.S. gas futures, options and swaps named after his daughter, Sky.[4] It raised $102 million in capital in its first 3 months.[7][8]

In 2006, Perkins was a member of the board of directors of NorthernStar Natural Gas.[6]

Perkins made a $1.25 million profit on a trade in the stock of Goldman Sachs in September 2008.[9]

Perkins' fund gained more than 100% in 2021 and 208% in 2022 after betting on a surge in natural gas prices ahead of the Russian invasion of Ukraine and then adjusting positions as prices declined.[3][1]

Film production

In 2009, Perkins became involved in film production, producing various films including After.Life (2009), Unthinkable (2010), and Cat Run (2011).[10]

Personal life

Perkins has two daughters from a previous marriage to Stephanie Park. In July 2022, he married Lara Sebastian, an actress and professional dancer.[2] Perkins, a proponent of spending all of his earnings during his lifetime, lives what has been described as an "extravagant lifestyle" and has a popular Instagram account. Perkins also makes $500,000 "novelty bets" with friends on goals such as losing weight. He owns a 55' Sea Ray Stream Boat yacht.[11]

In 2014, for his 45th birthday, at his expense, Perkins rented a "secluded hotel" in St. Barts, flew in friends, and hired Natalie Merchant to perform, saying that it was a once in a lifetime chance for such an experience.[12]

In 2017, he filed a lawsuit against the United States Virgin Islands, claiming that he was entitled to a $5 million tax refund for tax year 2015.[13]

In 2020, Perkins released the book Die with Zero, a book for the well-to-do on how to get the most from both money and life, noting that dying with money in the bank means missed experiences and extraneous working.[2][12]

In 2021, Perkins bought a house on Lake Austin from Bumble founder Whitney Wolfe Herd. It was listed for $28.5 million.[14] That year, Perkins offered a 1-week stay in the house in a charity auction via Charitybuzz to benefit the National Tennis Foundation.[15]

In 2022, after coveting the work for years, Perkins paid $15,275,000 million to acquire The Sugar Shack, a 1976 painting by Ernie Barnes. It had been estimated to sell for $200,000, although Perkins knew the estimate was artificially low. Perkins expects the painting to be worth over $100 million in the future.[16][2] Perkins also owns artwork by DabsMyla, Roy Lichtenstein, Angelbert Metoyer, and Augusto Torres.[17]

Poker

Perkins, a poker player, has entered notable events including the World Series of Poker, Big One for One Drop, PokerStars Big Game, and PokerStars Caribbean Adventure.[18][19][20] Perkins is friends with and often plays with Dan Bilzerian.[21]

His total live tournament winnings exceed $5.5 million of which $2.7 million came from his One Drop cash at the WSOP.[22] Despite his winnings, Perkins says he has also lost millions and considers himself an amateur.[16]

Philanthropy

In 2016, Perkins contributed $1.5 million towards the construction of the William O. Perkins III '86 Athletic Center at the University of Iowa, his alma mater.[23]

In 2023, Perkins funded a $5.9 million gift to the DePelchin Children's Center.[24]

References

  1. 1 2 Steinberg, Julie (January 27, 2023). "This Energy Hedge Fund Returned More Than 200% Last Year". The Wall Street Journal.
  2. 1 2 3 4 5 Snyder, Jim (September 2, 2022). "Former Hawkeye Football Player Bill Perkins is All In on Life". Iowa Magazine.
  3. 1 2 Fletcher, Laurence (July 19, 2022). "Top US energy trader Bill Perkins opens London office as gas market goes 'crazy'". Financial Times.
  4. 1 2 3 SITTAMPARAM, RASIKA (March 2, 2023). "Good energy: US natural gas trader Bill Perkins on moving to London". Spear's Wealth Management Survey.
  5. ↑ "LEADERSHIP". Skylar Energy.
  6. 1 2 "NORTHERNSTAR NATURAL GAS INC. FORM S-1". U.S. Securities and Exchange Commission.
  7. ↑ Prezioso, Jeanine (January 10, 2013). "Ex-Centaurus trader finds profitable swings in natgas". Reuters.
  8. ↑ Loder, Asjylyn (June 18, 2013). "Skylar Hires Citadel's Loftus Fitzwater to Trade Natural Gas". Bloomberg News.
  9. ↑ Phillips, Michael M. (September 24, 2008). "Trader Makes a Quick $1.25 Million on Rescue, Then Slams It". The Wall Street Journal.
  10. ↑ Leydon, Joe (June 26, 2010). "Review: 'Unthinkable'". Variety.
  11. ↑ Puko, Timothy (August 4, 2017). "Bill Perkins Is the 'Last Cowboy' Betting on Volatile Gas Markets". The Wall Street Journal.
  12. 1 2 Brown, Paul B. (July 10, 2020). "Awkward Timing, but the Financial Ideas Are Still Sound". The New York Times.
  13. ↑ "Perkins v. United States Virgin Islands". Casetext.
  14. ↑ Thompson, Paul (January 22, 2021). "Luxury housing reaches new heights: Million-dollar bidding wars, cold calls & a potential Lake Austin record". American City Business Journals.
  15. ↑ "LIVE BID! 7-Night Stay on a Luxury Estate on Lake Austin, Texas". Charitybuzz.
  16. 1 2 Tarmy, James (May 13, 2022). "Why This Fund Manager Paid $15 Million for a Painting Estimated at $200,000". Bloomberg News.
  17. ↑ Kinsella, Eileen (May 13, 2022). "'The Secret's Out': Bill Perkins, Buyer of the Record-Smashing Ernie Barnes Painting at Christie's, Tells Us About His Auction Coup of a Lifetime". Artnet.
  18. ↑ Lopez, Linette (June 29, 2013). "This Is The Hedge Fund Manager That Knocked David Einhorn Out Of The World Series Of Poker". Business Insider.
  19. ↑ Maldonado, Pamela (June 27, 2013). "Millionaire Businessmen Take On the Poker Pros in the $111,111 One Drop High Roller Event". PokerNews.
  20. ↑ Lopez, Linette (July 23, 2013). "Six Brilliant Hedge Fund Managers Played In A Secret Poker Tournament Last Night". Houston Chronicle.
  21. ↑ Pempus, Brian (April 7, 2016). "Dan Bilzerian, Bill Perkins Thinking Of Double-Or-Nothing Bets To Follow $1.2M Bike Ride Gamble". Card Player.
  22. ↑ "William Perkins 'Bill'". The Hendon Mob.
  23. ↑ Ojutiku, Mak (January 21, 2016). "St. Peter's Prep holds groundbreaking for $5.25 million athletic center". The Jersey Journal.
  24. ↑ France, Chandler (September 12, 2023). "DePelchin Children's Center receives $5.9M gift from Lara and Bill Perkins' nonprofit". American City Business Journals.
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