Sunday, 28 December 2014
Last updated 2 hours ago
May 13 2011 | 1:10pm ET
Third Point has grown by $500 million in just over a month. For the now-$7.2 billion New York hedge fund, that's simply too much, too fast.
Third Point has closed to all new investments, it told investors on Wednesday, AR magazine reports. The firm had previously told clients that it was merely planning to refuse any "new relationships," but founder Daniel Loeb decided that the last month's growth was quite enough.
Third Point has been booming in recent years: The firm's hedge funds rose between 8.1% and 11.7% in the first quarter. They returned between 32.8% and 41.7% last year, and between 33.3% and 44.2% in 2009.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.