Hedge Fund Eton Park Is Shutting Down After a Decade
- Founder cites disappointing 2016, tough market environment
- Decision to return funds follows fellow Goldman alum Perry
Eric Mindich at the CNBC Institutional Investor Delivering Alpha Conference in New York on July 15, 2015.
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Eric Mindich, a one-time Goldman Sachs star trader who jumped into the hedge fund industry during its heyday, is throwing in the towel on his $7 billion firm.
Mindich -- whose Eton Park Capital Management was among the biggest fund startups -- is returning client money after 13 years, he said in a one-page letter to clients Thursday. The firm expects to return 40 percent of all investors’ capital by the end of next month.