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.

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