PhotoEric Mindich is the latest big-name hedge fund manager to throw in the towel — another sign of turmoil in the $3 trillion hedge fund industry. Mr. Mindich, a 49-year-old former Goldman Sachs executive, sent a letter to investors on Thursday saying he was closing down his Eton Park Capital Management hedge fund, which manages about $7 billion. Eton Park is the first big hedge fund to close this year. Last year, there were a number of notable hedge fund closings, including Perry Capital, which Richard C. Perry shut after years of poor performance. In 2008, one of the worst years for hedge funds, Eton Park lost 10 percent, but that was far better than most other firms fared.

Source: New York Times March 23, 2017 16:35 UTC