Eton Park increases liquidity, pulls back on emerging markets

By Lawrence Delevingne

Thu May 10, 2012

Eric Mindich’s firm loses founding partner Edward Misrahi and changes its lock up and side pocket terms.

   Eric Mindich (Photo: Bloomberg)
Eric Mindich’s $11.8 billion hedge fund Eton Park Capital Management is relaxing its restrictive liquidity terms and cutting emerging market investments. Founding partner Edward Misrahi, who led the emerging markets team, has also left the firm.

The firm’s flagship fund (onshore) fell 11.15% in 2011, leaving Mindich " very disappointed." It has come back this year, gaining 5.0% net of fees through April, but that wasn't enough to prevent changes, especially around how quickly investors can take out their money.

"We have been...

ISSN: 2151-1845 / CDC10004H

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