Maybe he’s not a chip off the BlackRock after all.
Josh Fink, the son of BlackRock chairman Larry Fink, is losing money hand over fist in his hedge fund, Enso Global Fund.
Enso fell 60.5 percent last year, and is down more than 7 percent through April.
As a result of the losses, the 34-year-old Fink now manages just $44 million, down from as much as $700 million in 2008.
Fink’s dramatic reversal from hedge fund wunderkind to has been was reported yesterday on the website of AR.
Larry Fink sits on the board of Enso, as does BlackRock trustee James Grosfeld. The two had a combined 15 percent stake in the fund from inception, according to documents quoted in the article.
James Messerschmidt
Josh Fink
Enso’s Fink traveled the world searching out investments, which included a diamond mine in South Africa, salmon farming in Chile and power generation in Brazil.
Larry Fink, BlackRock, Enso, hedge fund, James Grosfeld
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