Third Point, Greenlight Gain In March

Apr 3 2013 | 11:53am ET

Third Point is one of the few hedge funds that have been able to keep up with the rallying stock market this year, and punctuated its first quarter with a strong March.

The New York-based hedge fund's flagship Offshore Fund returned 2.8% last month and is up 9.2% on the year, the firm told investors Thursday. The more highly-levered Third Point Ultra rose 4.2% on the month and is up 13.3% on the year, Reuters reports.

That’s a rare feat for hedge funds in 2013: topping the Standard & Poor's 500 Index, which was up over 3% in March and 10% in the first quarter.

Greenlight Capital also reported March gains which bested most peers, but not Third Point. New York-based Greenlight returned 2.3% on the month and is up 6.1% on the year.


In Depth

Direct Lending: What’s Different Now?

Mar 14 2017 | 8:43pm ET

Senior direct lending funds have become riskier over the past four years, with leverage...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of