WEST PALM BEACH, FL (HEDGECO.NET) – The Eton Park Hedge Fund has opened its doors with about $3.5 billion in assets according to Bloomberg report. The new fund, Eton Park Capital Management LP, wasput together by former Goldman Sachs partner Eric Mindich, who at age 27 was made Goldman�s youngest partner.
In 1994, Mindich became the co-head of Goldman�s equities division. Mindich quit Goldman Sachs recently, taking with him a number of his colleagues for the purpose of establishing a new hedge fund management firm. The Eton fund has become the largest hedge fund start up firm of all time according to published reports; it will utilize six different strategies such as equities and distressed debt in trading.
In the past recent years growing numbers of traditional Wall Street managers have left their firms to venture into the hedge fund management arena. Such crossovers resulted from hedge fund growth and opportunities which offer talented managers greater compensation packages in addition to incentive fees.
Other Goldman managers joining Mindich in his new venture includes Erland Karlsson, former co-head of Goldman’s principal strategies. Karlsson is the executive officer for the new Eton Park hedge fund. Another former Goldman Sachs head of equities manager Scott Prince, is the new Eton Park�s manager for equity derivatives and trading functions. While Edward Misrahi, also former Goldman manager for proprietary trading for Latin America is the European and Emerging markets manager at the Eton Park hedge fund.
Eton Park has offices in New York and London; the new fund will concentrate its trading activities in special event situations trading securities of companies going through turnarounds, bankruptcies and other corporate events.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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