Eton Park vet Edward Misrahi's hedge fund has returned double-digits year to date in 2014.
Ronit Capital returned 4.8% in July, bringing its year-to-date returns to about 13.5%, a person with knowledge of the fund told FINalternatives. To put that in perspective, the average hedge fund lost 0.6% in July, according to the HFRI Weighted Composite Index, and has gained 2.5% YTD.
The global emerging markets fund apparently made a substantial return on its short book last month, including its bet on the floundering Banco Espirito Santo, Portugal's second-largest bank and the subject of a government bailout.
Misrahi, a founding partner of New York-based Eton Park, left the $10 billion hedge fund in 2012, launching Ronit the following year.