Friday, 6 March 2015
Last updated 4 hours ago
Jun 13 2007 | 1:51pm ET
Legendary activist hedge fund manager and sharp tongue Daniel Loeb is going public. Loeb’s $5 billion New York-based hedge fund, Third Point, is currently closed to new investors, but a soon-to-be-listed vehicle is set to give investors access to the “merchant of venom.”
The firm will launch its Third Point Offshore Investors offering on the London Stock Exchange next month, Citywire reports. The Guernsey-domiciled fund will invest its assets in Loeb’s event-driven fund, which will remain closed for a year followed the new issue.
A prospectus for Third Point Offshore is expected on June 25, with trading commencing on July 18. Loeb’s firm hopes to raise €500 million (US$667 million) in the listing. Fees will be 2% for management 20% for performance, with a high water mark.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…