Par Capital is a Boston-based private investment partnership that focuses mainly on travel and online media industries. It had more than $5 billion in its 2019 Q3 13F portfolio. Paul Reeder started the hedge fund in 1990. Prior to founding Par Capital, Mr. Reeder worked as an airline analyst at Loomis Sayles & Co. Mr. Reeder holds a master’s degree from MIT’s Sloan School of Management and currently solely manages PAR Capital.
In 1997, Edward Shapiro joined the fund. Before joining Par Capital, Mr. Shapiro served as Vice President of Wellington Management Company between 1990 and 1997. Mr. Shapiro earned a BS in economics from University of Pennsylvania’s Wharton School of Business in 1986 and an MBA from UCLA’s Anderson School of Management in 1990 and served as VP and Partner at PAR Capital. Ed Shapiro retired in 2016.