Third Point Closes To All New Investment

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.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…