Investors Pull $1 Billion from Eric Mindich’s Eton Park (InstitutionalInvestorsAlpha)
Investors have pulled more than $1 billion from Eric Mindich‘s Eton Park Fund, managed by his New York-based multistrategy hedge fund firm Eton Park Capital Management, since the beginning of the year, investor documents show. The firm reported assets of slightly less than $8.9 billion at the end of June, according to a monthly report obtained by Alpha. The firm managed $10 billion at the beginning of the year, according to Alpha’s most recent Hedge Fund 100 survey, which ranks the 100 largest hedge fund firms in the world.
Samlyn Capital Holds $150 Million Stake in Allergan (WSJ)
Samlyn Capital LLC, a hedge fund founded by a veteran of SAC Capital Advisors LP, has built a $150 million stake in Allergan, Inc. (NYSE:AGN) +1.00% and is weighing whether to support Valeant Pharmaceuticals Intl Inc (NYSE:VRX) +0.29% ‘s hostile bid for the maker of Botox. Samlyn’s stake was detailed in the hedge fund’s confidential investor documents obtained by The Wall Street Journal and confirmed by people familiar with the firm. Allergan’s current market capitalization is about $50 billion.
BlueCrest To Open Hong Kong Office (Finalternatives)
BlueCrest Capital Management plans to expand in Asia with a new office in Hong Kong. The hedge fund has applied for regulatory approval with the Hong Kong Securities and Futures Commission, Bloomberg News reports. BlueCrest already has an office in Singapore. Its new Hong Kong base will be led by James Chen, who will move to the city from Singapore. Chen, a former managing director at Barclays in Hong Kong, will initially lead a “small team” there, according to Bloomberg.
Hedge fund tycoon must keep paying $50G monthly child support: court (NYDailyNews)
Hedge fund multi-millionaire Warren Lichtenstein has lost a court battle to slash the staggering $50,000-a-month child support payments that he must make to Hong Kong socialite Annabelle Bond. In a ruling issued Thursday, Manhattan Supreme Court Justice Manuel Mendez says New York law recognizes a decision by a Hong Kong court that Lichtenstein, 48, must fork over the near-record child support payment for the couple’s daughter, Isabella, 6. The judge also ordered Lichtenstein to cough up the $570,110 plus interest that he owes Bond in unpaid child support in and legal fees.
Hedge Funds Notch Another Milestone (WSJ)
Hedge-fund assets have hit yet another record. The hedge-fund industry oversaw a record $2.8 trillion in assets at the end of the second quarter, according to industry tracker HFR Inc. That marked the eighth consecutive quarterly record for industrywide assets under management, up from $2.7 trillion at the end of the first quarter. Investors sent $30.5 billion to the hedge-fund industry in the second quarter, up from $26.3 billion in the first quarter and the largest quarterly allocation since the first quarter of 2011.