FrontPoint's Eisman To Stay, Seek More Control

Jan 20 2011 | 2:27pm ET

Steven Eisman moved today to tamp down on speculation that he was planning to leave FrontPoint Partners.

The star fund manager, who runs $1.3 billion in financial services investments at the New York-based firm, said in a statement, "I am not leaving FrontPoint now."

"I am in discussions on a structure which will provide me with greater operational flexibility and control over my own business," Eisman said. "I will be managing money for FrontPoint and its clients for years to come."

Eisman's statement comes amidst media reports that he was planning to leave FrontPoint and launch his own firm. Yesterday, Eisman said he wanted "to have more control over my destiny" and The Wall Street Journal reported that he had held discussions with potential clients about investing with his new firm.

Eisman did not rule out starting such a firm, specifically saying he would continue to manage money for FrontPoint and that the structure of the possible new firm hadn't been decided.

Losing a star manager like Eisman would be a further blow to FrontPoint, which is being spun-off from Morgan Stanley. The hedge fund has seen its assets under management plummet from $7 billion to $4.5 billion in the wake of an insider-trading scandal involving its healthcare hedge funds. FrontPoint has since shuttered those funds and fired its managers.

Eisman had no role with the healthcare funds.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.