Third Point Up 38% In ’09, Matches ’08 Drawdown

Jan 4 2010 | 12:26pm ET

Activist hedge fund Third Point had a very good year, indeed.

The New York-based firm saw all four of its hedge funds soar at least 33% in 2009, according to a performance update obtained by Of course, its 2008 was worse than its 2009: The hedge fund, helmed by Daniel Loeb, lost 38% in the former.

Still, a strong December put Third Point closer to returning to its high-water mark. Its Ultra fund rose 5.3% to end the year up 44.2%. Its flagship Third Point Partners rose 5% last month to reach 38.2% on the year; the offshore version’s returns were 4.5% and 38.6%.

Third Point Partners Qualified added 4.4% in the last month of the year to finish 2009 up 33.3%.

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