NEW YORK (HedgeWorld.com)–Eric Mindich, some of his fellow alumni of The Goldman Sachs Group Inc. and Stuart Hendel, formerly of Morgan Stanley, have founded a hedge fund, Eton Park Capital Management LP, with more than US$3.5 billion in assets.
A spokesman for Eton Park declined any comment.
Bloomberg reported, though, and a source confirmed, that the new fund is multi-strategy, focusing on equity and distressed debt. Other Goldman Sachs veterans working with Mr. Mindich include Erland Karlsson, formerly the co-head of Goldman’s principal strategies department; Scott Prince, formerly co-head of its equity trading and global equity derivatives desks; and Edward Misrahi, former head of its proprietary trading.
There are reported to be more than 50 people now employed at the fund’s new Manhattan headquarters. Trading began November 1.
Mr. Mindich, though, is the highest profile figure of the new team. In the 1990s, he was dubbed the “Doogie Howser” of Wall Street (after a television comedy series about a precocious doctor).
Mr. Mindich was all of 27 when he made partner at Goldman Sachs. In January 2003, he became senior strategy office and chairman of the banking giant’s global strategy committee. That November, at 36, he left that position in what was then widely described as a retirement–though the joys of poolside lounging and golf seem inadequate for Mr. Mindich.