![]() He’s never leveraged his dad’s name to win investors, but rather focuses on performance and style, associates say.ĭespite a tough July, Enso’s flagship fund – which invests in a lot of overseas companies – was up 4 percent for the year starting in August. The senior Fink eventually came around and gave his son start-up money – but not before stipulating he wanted to be paid back or else the sum would come out of his son’s inheritance, this person said.įink persevered, however, and now Enso has $700 million in assets under management. “His original plans were overly ambitious,” admits a former colleague, who’s also an investor.Įven his dad had doubts and tried to talk him out of it, according to one person familiar with the situation. He was shocked and dismayed, and worried about paying for the posh new office, people say. And despite several finance jobs under his belt he raised just $5 million – far short of his $50 million goal. Expecting to raise $50 million, he recruited several friends and colleagues to work with him and rented an office on Madison Avenue.īut given his age – he was no more than 22 or 23 years old at the time – he was turned away more often than not. To be sure, Enso’s growth has been modest – not the stuff of rock-star hedge funds.Īfter being approached by Goldman Sachs to raise money eight years ago, Fink – then a trader – jumped on the opportunity. “I know his father and I’m friends with him, but with all due respect, Josh is someone who has really succeeded on his own,” said Dwight Anderson, head of hedge fund Ospraie Management and the younger Fink’s boss from his days at Tiger Management If you’ve never heard of the younger Fink before, it’s partly because he tries hard to stay under the radar, according to friends and associates.Īnd despite what must be an astounding number of connections due to his family ties, Fink is serious about building an independent reputation for both himself and his little-known Madison Avenue hedge fund, these people say. Fix-It” for being the go-to guy for troubled firms seeking to navigate the treacherous waters of the credit crunch. What’s more, he’s the eldest son of Laurence Fink, CEO of BlackRock – the man recently dubbed “Mr. At 30 years old, he’s al ready the head of a $700 million hedge fund called Enso Capital. Yet Fink is no ordinary Wall Street banker or trader. He wears nice suits, spends his spare time read ing arcane financial texts, and is always on the lookout for a big investment idea. On the surface, Joshua Fink looks like an average Wall Streeter.
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