Eton Park: “We are very disappointed”
By Lawrence Delevingne
Fri Jan 20, 2012
Eric Mindich’s firm explains how it lost 11% in 2011; announces a departure and new partners.
Eric Mindich's Eton Park apologized to investors for its poor
performance in 2011 in a detailed, 48 page letter to clients
|| Eric Mindich
"We are very disappointed with these results," the firm said
in a January 17 note to investors in its flagship $3.8 billion
Eton Park Fund. "We entered 2011 believing that the year would
bring some measure of normalcy to the economy and markets,
creating a backdrop for our investments to demonstrate their
underlying value…however, 2011 was instead driven by
macro disruptions and a weakening economic landscape that
undermined the value realization process for many of...
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