WEST PALM BEACH, FL (HEDGECO.NET) – Eric Mindich, former Goldman Sach\u00c3\u00af\u00c2\u00bf\u00c2\u00bds manager is gearing up to launch his new hedge fund. According to news reports, the fund will allocate up to 30% of capital tobe invested in private equity. This equity allocation has been described as high; one manager said, “No one else has come to market and advertised 30% of capital in seriously illiquid instruments.\u00c3\u00af\u00c2\u00bf\u00c2\u00bdGenerally, most equity allocations are in the range of 10-20%, most hedge fund market analysts think.<\/p>\n
The new Mindich hedge fund is to be launched October 1 and the firm is still putting the fund together. The Eton Park hedge fund will be utilizing several trading strategies, including long\/short equity strategies, credit arbitrage, capital structure arbitrage, convertible arbitrage, as well as statistical arbitrage.<\/p>\n
According to new released statements, investors in the fund will have the option to choose between two share classes, A and B. Class A investors will not be allowed to redeem their investments prior to the expiration of two years, upon which they may withdraw one-third of their investment portfolios if they desire. They may also withdraw another 33% after the third year, and the rest of their investments may be withdrawn after the fourth year according to the statements.<\/p>\n
The class B investors may no withdraw any of their assets in the fund for one year, during the second year they may redeem their assets but will be charged a 6% penalty if such redemptions are made during the first 3 \u00c3\u00af\u00c2\u00bf\u00c2\u00bd years of their initial investment. Class B investors may avoid such penalty if they redeem 33% of their assets after the first 3 \u00c3\u00af\u00c2\u00bf\u00c2\u00bd years. Similar withdrawals could be made thereafter in 4.5 years, and 5.5 years according to released statements.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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