Third Point, Greenlight Up In Q1

Apr 5 2012 | 1:03pm ET

Third Point and Greenlight Capital were among the hedge fund industry's winners in the first quarter.

New York-based Third Point's Ultra Fund rose 10% on the quarter after rising 2.3% in March. The firm's Partners Fund added 7.1%.

Greenlight did slightly less well, adding just 6.9%, Reuters reports.

While both Third Point and Greenlight easily topped their peers, according to industry indices, both trailed the broader markets, with the Standard & Poor's 500 Index gaining 12% in the first quarter.

Not every hedge fund compares unfavorably to the S&P500: T2 Partners rose 23.6% in the first three months.

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