The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 8 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.