Eton Park Buys Distressed Debt Shop

Nov 19 2007 | 3:19pm ET

Like many hedge funds, Eton Park Capital Management is branching out into credit investing. But it isn’t starting from scratch.

The $10 billion New York-based hedge fund manager is absorbing R6 Capital Management, a $300 million New York distressed debt and lending hedge fund shop. R6 has sold its portfolio to Eton Park and will close, while founder Ralph Rosenberg and his team will join Eton Park. Rosenberg and Eton Park founder Eric Mindich worked together at Goldman Sachs.

R6’s fund is reportedly up 5% this year, as it capitalized on the credit crunch by betting against the fixed-income markets.

Eton Park does not focus on debt investing, and R6 had found it difficult to raise capital for its hedge fund. The deal will allow Rosenberg to use Eton Park’s infrastructure to boost the amount of money he runs in his strategy.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note