The apple may not fall far from the tree, but the chip may fly a long way from the rock. Or that is innuendo that the New York Post
chose to hit the Fink family with this morning.
The paper details the travails of the Enso Global Fund
. For those not in the know, Enso Global is a hedge fund run by Josh Fink
, the 34-year-old son of Larry Fink
Everyone in the mutual fund business knows Larry Fink, the granite force behind BlackRock
]. The Post
posits that the son is not mined from the same quarry: "Maybe he’s not a chip off the BlackRock after all," it claims.
And yes, Larry invests with his son. He holds a 15 percent stake in the hedge fund, but that stake is, shall we say, underperforming his stake in Blackrock.
The hedge fund is down more than 7 percent through April. That comes on top of a 60.5 percent fall in 2011.
The poor track record has left the fund with just $44 million in AUM, a far cry from the $700 million it held in 2008.
may be referring to that track record in its headline:
"Fink kid is a big fat loser"
But from the picture shown in the article the "fat" charge may not stick or be fair.
Sean Hanna, Editor in Chief
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