Good-Bye, Easy Money

The credit crisis is hitting hedge funds on their investments and financing.


Eric Mindich, worried about the unfolding credit crisis, slashed the leverage in his Eton Park Capital Management multi-strategy hedge fund firm by nearly half, from 2.3 to 1.3 times assets, in 2007. But it wasn’t enough; he is now paring the $11 billion New York–based firm’s leverage still further, to 1.1

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