Monday, 28 July 2014
Last updated 11 hours ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…