Monday, 30 November 2015
Last updated 2 days ago
Jul 31 2013 | 9:29am ET
Dan Loeb's plan to take Third Point's reinsurance business public is going even better than expected.
Third Point Re said it will raise up to US$345 million in an initial public offering. When the plan was announced earlier this year, the Bermuda company was seeking only US$250 million.
The more ambitious target was laid out in an updated filing with the U.S. Securities and Exchange Commission this week. It is unclear when exactly Third Point Re will float, but the IPO will likely come later this year.
Third Point set up the reinsurer two years ago and has raised $750 million for the business, which is headed by industry veteran John Berger. Loeb and a pair of private equity firms are among the reinsurer's primary investors. Proceeds from the IPO will allow the company to increase its underwriting capacity.
Third Point Re invests its capital and premiums in Third Point's hedge funds.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…