{"id":6893,"date":"2007-12-12T00:00:00","date_gmt":"2007-12-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"mindichs-eton-pk-invests-in-indias-reliance-capital","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2007\/mindichs-eton-pk-invests-in-indias-reliance-capital.html","title":{"rendered":"Mindich&#8217;s Eton Park Invests in India&#8217;s Reliance Capital Asset"},"content":{"rendered":"<p>  Bloomberg- Eton Park Capital Management LP, the hedge-fund firm founded by former Goldman Sachs Group Inc. partner Eric Mindich, acquired a stake in Reliance Capital Asset Management Ltd., India&#8217;s  biggest mutual fund.<\/p>\n<p>  Eton Park bought 5 percent of the unit of Reliance Capital Ltd., controlled by Anil Ambani, India&#8217;s third-richest man, the Mumbai-based company said in a statement. Eton Park will pay 5.01 billion  rupees ($127 million) for the stake, valuing the company at 100 billion rupees.<\/p>\n<p>  Mindich oversees $10 billion including stocks and distressed debt as well as private-equity investments in developing countries. Prudential Financial Inc. and Shinsei Bank Ltd. are forming  asset-management ventures in India, where record economic growth has driven a doubling in the stock market in a year.<\/p>\n<p>  The proposed investment values the money manager at about 13 percent of assets under management, the company said. Reliance Capital Asset&#8217;s valuation translates into a price of 400 rupees per share  of Reliance Capital.<\/p>\n<p>  Reliance Capital shares have risen fourfold this year to a record 2,511.5 rupees today on the Bombay Stock Exchange, valuing the financial services company at $15.6 billion.<\/p>\n<p>  Reliance Mutual Fund manages 773 billion rupees, or 14.6 percent of the 5.3 trillion rupees managed by Indian Funds at the end of October, according to data on Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg- Eton Park Capital Management LP, the hedge-fund firm founded by former Goldman Sachs Group Inc. partner Eric Mindich, acquired a stake in Reliance Capital Asset Management Ltd., India&#8217;s biggest mutual fund. Eton Park bought 5 percent of the unit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6893","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6893"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6893\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}