Monday, 4 May 2015
Last updated 9 hours ago
Jul 19 2007 | 11:29am ET
Activist hedge fund manager Third Point did, in fact, go to market today, but even an extra 24 hours to allow “continuing flow or orders from the U.S. side,” Daniel Loeb’s foray into public listings did not go as well as planned.
In the end, the firm raised US$525 million, it told the London Stock Exchange, where it listed the vehicle. That is short of the €500 million (US$689 million) it had targeted, in spite of the fact that the listed fund—sold at an initial offering price of US$10, €10 or £10 per share—is the only route new investors have to Loeb’s closed Third Point Offshore Fund.
New York-based Third Point told the LSE in a note that, should IPO global coordinator and stabilizing manager UBS fully exercise its over-allotment option—deadline Aug. 17—the listing will raise a total of US$573 million.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…