David Einhorn’s plans to open his Greenlight Capital hedge funds to new money in March is fortunate timing for a firm whose assets plummeted by roughly 60 percent last year, falling to just $2.5 billion.
More to the point, only about a quarter of that total comes from investors who are able to redeem at regularly scheduled intervals — meaning that Einhorn now manages less than $1 billion on behalf of the type of investors who would participate in any new capital raise.
