(Bloomberg) Eric Mindich, a one-time Goldman Sachs star trader who jumped into the hedge fund industry during its heyday, is throwing in the towel on his $7 billion firm.Mindich — whose Eton Park Capital Management was among the biggest fund startups — is returning client money after 13 years, he said in a one-page letter to clients Thursday. The firm expects to return 40 percent of all investors’ capital by the end of next month.
“Recently, a combination of industry headwinds, a difficult market environment and, importantly, our own disappointing 2016 results have challenged our ability to continue to maintain the scale and scope we believe necessary to pursue our investment program consistent with our founding principles,” Mindich, 49, wrote.
