Sunday, 29 November 2015
Last updated 1 day ago
Sep 6 2011 | 3:59am ET
Daniel Loeb appears to be following his friend David Einhorn into the reinsurance business.
Loeb's Third Point and Alterra Capital Holdings reinsurance chief John Berger may be going into business together, according to an Alterra filing with the Securities and Exchange Commission. In that disclosure, Alterra said that Berger, CEO of its reinsurance business, had left the firm on Aug. 1 to join Third Point Re.
Alterra offered no further information about the apparently new company, and Reuters found no such company registered in reinsurance hotspot Bermuda or eight other top jurisdictions, including Third Point's home base of New York.
Einhorn has been in the reinsurance business since 2004, when he founded Greenlight Capital Re. The company invests its premiums with Einhorn's hedge fund, Greenlight Capital.
Word of his potential new business line comes as Loeb offered investors some bad news about August: Third Point's flagship hedge fund shed 2.8% on the month to cut its year-to-date gain to 3.9%.
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…