Third Point In London Listing

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.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of