Hedge Funds People Moves

Steve Eisman to leave FrontPoint

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The firm has announced which funds will survive, with a conspicuous absence.

   
  Steve Eisman
Photo: Bloomberg

Steve Eisman, famed for his prescient short of the subprime mortgage market, is leaving FrontPoint Partners at the end of the month and his funds are being liquidated, according to people familiar with the situation.

A letter sent to FrontPoint investors yesterday said the firm has been unwinding its funds and will return "a significant amount of capital" by June 30. The firm wrote that it will continue to operate the Quant Macro, Strategic Credit, Rockbay and Direct Lending funds, but notably did not mention the Financial Horizons Fund