Saturday, 20 September 2014
Last updated 1 day ago
Jun 5 2009 | 11:20am ET
It took a strong May, but Third Point is back in the black.
The New York-based hedge fund enjoyed a better-than-average month as it played catch-up with the rest of the industry. All four of its funds did at least twice as well as Hedge Fund Research’s HFRX Global Hedge Fund Index, which added 3.15%, according to the firm’s monthly report, obtained by Dealbreaker.com.
And Third Point, headed by noted man of (angry) letters Daniel Loeb, needed it: The all four funds had actually lost ground through April.
The firm’s $1.2 billion Offshore Fund jumped 7.4% in May to end the month up 5.4%. But it was actually Third Point’s smallest fund, $151 million Ultra, that did the best, rising 8.5% to leave its year-to-date return at 6.5%.
Both the Partners and Partners Qualified funds returned 6.4% in May. The former, which manages $175 million, is up 4.3% on the year, and the $333 million latter is up 4.1%.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.