Reuters- Hedge fund Eton Park Capital Management said on Monday it will take over R6 Capital Management in January, engineering one of the first prominent acquisitions among hedge funds in the $2trillion industry.

For Eric Mindich’s $10 billion Eton Park, Ralph Rosenberg’s roughly $300 million R6 Capital Management proved attractive because of its expertise in distressed credit and asset-based financing.

And for Rosenberg, whose small fund performed well but could not raise the billions of dollars in capital needed to really flourish, joining Eton Park will mean access to more money very quickly.

“We believe that the addition of Ralph and his team will complement our already strong team and allow us to capitalize to an even greater extent upon opportunities in these areas,” Eton Park wrote to its investors on Monday.

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Reuters- Hedge fund Eton Park Capital Management, one of the biggest and most successful in the industry, is merging with R6 Capital Management, a much smaller hedge fund, an Eton Park spokesman said on Monday.

Eton Park, which manages $10 billion and is said to be returning roughly 30 percent this year, found R6, which invests roughly $300 million, attractive because the smaller fund specializes in distressed investments, a person familiar with the matter said.

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