Tuesday, 1 December 2015
Last updated 8 min 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.
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…