Friday, 22 May 2015
Last updated 15 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…