Eton Park Capital Management has just finished fielding the first round of redemption requests for its $5.5 billion multistrategy fund. The deadline for redemption notification was in late October, and the firm is understood to have received a number of inquiries from investors about the firm's lackluster performance and recent news that a couple of key executives are departing the firm.
Investors who decide to stay in Eton Park will see their capital automatically locked in for another three years. Redemption penalties, at 6%, are steep. Redemptions are also subject to a 20% gate.
Eton Park began trading on