Eton Park Capital Management is planning to lower its management fee and create a more liquid share class.
Reuters reported that investor demands prompted New York-based Eton Park, which is one of the year’s top performing hedge funds, to lower its management fee from its current 2% to 1.5%, effective January 1.
The firm will also launch a new share class that will allow investors to liquidate their investments within four quarters, instead of the current seven.
Separately, two partners – Isaac Corre and Josh Astrof—are leaving Eton Park next year for undisclosed reasons, according to an eVestment report.
Former Goldman Sachs star trader Eric Mindich launched Eton Park with $3 billion in 2004 – one of the largest in hedge fund history. It currently manages approximately $10 billion in assets.