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August 16, 2017  

Eton Park Alum Maps Asia-Focused Offering

Eton Park Capital’s former head of Asia equity investments is laying the groundwork for a new hedge fund management company.

There’s no word on the name of Chen Chen’s Hong Kong firm, which would preserve his focus on stocks in Asia. Chen recently paid an initial visit to investors in the U.S., and apparently is preparing for a return trip soon.

While a capital-raising timeline and equity target remain to be seen, Chen apparently hopes to line up a few college endowments, foundations or similar operations as long-term limited partners. He has hired Bank of America and Morgan Stanley as his firm’s prime brokers, a source said.

“I know he made them a lot of money,” another source said, referring to Chen’s work at Eton Park.

Eton Park was founded by former Goldman Sachs partner Eric Mindich in 2004 and shut down this year amid weakening performance. The New York multi-strategy shop’s assets had fallen from a peak of $14 billion to $7 billion at yearend 2016.