Hedge Funds Performance

Eton Park opens structured credit fund


Eric Mindich responds to investor interest after a private launch in November; Credit and TruPS top performers in Q1 bounceback.

  Eric Mindich (Photo: Bloomberg)
Eric Mindich was “very disappointed“ by the double-digit losses Eton Park Capital Management suffered in 2011, but that hasn’t stopped investors from asking to get in a nascent fund focused on structured credit—an asset class helping drive positive returns this year.

In November, the $11.8 billion New York firm formed a co-investment vehicle, EP Credit Opportunities Master Fund, to take advantage of openings in structured credit. Among other securities, the credit fund invests in Trust Preferred (TruPS) collateralized debt obligations for smaller banks, which were the flagship $3.8