Monday, 29 August 2016
Last updated 2 days ago
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.