Hedge-fund manager Steve Eisman is back in the hunt — for cash.
Eisman, who shorted the housing market to fame and fortune during the subprime bubble era, is one of more than 50 equity hedge fund managers who will make his case to prospective investors at a Goldman Sachs event at Barclays Center today.
It could be a tough sell.
Eisman left FrontPoint Partners to start his own fund, Emrys Partners, in March 2012, with $22.9 million from friends and family. Emrys got off to a slow start, gaining 3.6 percent in 2012.
While Eisman is still lagging the S&P 500, this year has been better; Emrys rose 6.2 percent in 2013 through May, the latest numbers show.
As of June 1, it had managed to amass $115.1 million, according to an investor letter received by The Post.
On May 8, Eisman trumpeted the turnaround in housing as his main investment theme at the Ira Sohn investment conference.
Some of his top housing picks have since fallen victim to the selloff prompted by Fed Chairman Ben Bernanke’s comments about tapering off the central bank’s mortgage-backed security buying efforts.
Forestar, a land company that was one of Emrys’ top long positions as of June 1, is down about 15 percent since Eisman’s Ira Sohn comments. Two others, Lennar and Pulte Group, fell about 20 percent.