Barney's just declared bankruptcy. Meet the company's billionaire chairman, who was once considered one of Wall Street's most promising investors and owns at least 3 homes across the US.

The couple's Hamptons home features a wood-paneled library and an infinity pool, according to Architectural Digest. Their house in the French Riveria is inspired by the 1960s, according to Elle Magazine.

Perry's wife Lisa wrote a book about the interiors of their homes, which she designed herself, according to Architectural Digest.

The Manhattan-based hedge fund made successful bets against the housing market before the 2008 collapse, according to the Wall Street Journal.

At its 2007 peak, the hedge fund managed $15 billion, the Journal reported on August 6.

The following year, Forbes estimated that Perry had a net worth of $1.2 billion.

The suit was valued at over $1 billion, according to the New York Times. Icahn alleged that Perry's hedgefund manipulated the boards of several companies facing acquisition, including Compaq Computer before its merger with Hewlett-Packard between 2001 and 2002, the Times reported at the time.

The lawsuit was eventually dropped, according to Forbes.

The hedge fund invested less than $300 million in the luxury department store, according to the Wall Street Journal.

The Journal described Barney's as Perry's "passion project." However, Perry's spokesperson, Richard Edelman, told the Journal, "As Richard has done over the course of his career, he made the investment after significant diligence and determining it was a smart investment to make."

Perry underestimated the threat e-commerce posed to Barneys, the Journal reported, and put too much emphasis on the chain's brick and mortar locations.

Perry also was unable to negotiate the department store out of a substantial rent increase, according to the Journal.

However, Perry did close some unprofitable stores and reduce customer's shipping and returns costs during his tenure, according to the Journal.

The hedge fund lost more than 12% of its investors' money, causing clients to pull out, according to The New York Times. While Perry Capital stopped managing money for the public, it did retain some investments — including its stake in Barneys, according to the Journal.

"The industry and market headwinds against us have been strong, and the timing for success in our positions too unpredictable," Perry wrote in a September 2016 letter announcing the closure to investors, according to The New York Times.

The retailer cited slowing sales and rising rents as the source of its financial problems, Business Insider previously reported.

Read more: We went to Barneys' New York flagship store shortly before the retailer filed for bankruptcy. Here's what it was like.

"Like many in our industry, Barneys New York's financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand," CEO Daniella Vitale said in a statement. "In response to these obstacles, the Barneys New York Board and management team have taken decisive action by entering into a court-supervised process, which will provide the Company the necessary tools to conduct a sale process, review our current leases and optimize our operations."

While the Manhattan location will remain open, Barney's will close 15 of its 22 stores and put itself up for sale.