Warren Buffett’s Berkshire Hathaway Inc. cut its stake in General Motors Co. in the first quarter and some hedge funds including Greenlight Capital Inc. exited completely as the carmaker recalled a record number of vehicles.
George Soros and Eric Mindich cut their holdings in the SPDR Gold Trust in the second quarter as prices rallied to a record, while billionaire John Paulson maintained the largest stake, according to fund records.
Eton Park Capital Management LP, the hedge fund founded by Eric Mindich, raised more than $400 million for a hedge fund that will invest in trust preferred securities and collateralized debt obligations.
Eric Mindich’s $13 billion Eton Park Capital Management LP led hedge funds in raising gold investments last quarter, joining billionaire John Paulson’s bet that bullion will increase amid inflation concerns.
Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase & Co.