Third Point Reopens As Loeb Sees Opportunities

Jul 30 2014 | 9:10am ET

Just seven months after returning capital to clients for the first time, Third Point has reopened to new investment, albeit for a short time only.

Firm founder Daniel Loeb told investors yesterday that Third Point’s flagship would accept new money until Oct. 1, The Wall Street Journal reports. He cited a number of specific opportunities for the change of heart.

Loeb did not say how much the now $15 billion firm would accept, or identify the opportunities he saw.

Third Point returned about $1.4 billion to investors at the end of last year, about 10% of its assets at the time. The firm said it was doing so to “moderate” its growth, following similar moves by other prominent hedge funds.

Third Point’s flagship is up 6% this year after returning 18% last year.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...