Dan Loeb Would Like That $1.4 Billion Back

Remember, back in October, when Dan Loeb announced that Third Point would be returning about 10% of the $14 billion it had, to “moderate” its growth or something? Well, that may have moderated things a little too much, and even though Third Point’s fat 6% return has it managing $15 billion seven months later after cutting those checks, Loeb is feeling inspired to write a few more letters, and needs a few more bucks to do so.

The New York hedge-fund firm, which now manages $15 billion after recent investment gains, plans to accept more money in its flagship fund through Oct. 1 to pursue specific investments, Mr. Loeb told investors in a quarterly conference call Tuesday. He didn’t specify what the investments were or how much the fund would accept, one of the people said.

Third Point LLC Briefly Reopening to More Money [WSJ]

7 comments (hidden to protect delicate sensibilities)
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Comments (7)

  1. Posted by John St Cannibal | July 30, 2014 at 2:00 PM

    It looks like he's jerking off aqua man.

  2. Posted by Guest | July 30, 2014 at 2:47 PM

    Worst comment of the day.

  3. Posted by Danker_Banker | July 30, 2014 at 3:14 PM

    I think they "had" $14 billion rather than $1.4 billion. Probably no big deal, close enough.

  4. Posted by Guest | July 30, 2014 at 3:53 PM

    Those decimals can get pretty tough.

    BofA Risk Management Team

  5. Posted by IBAssoc | July 30, 2014 at 4:07 PM

    "…Loeb is feeling to inspired to write a few more letters." Typo: extra "to." Also, "…later after" is redundant/awk. Pls fix and resend. Traveling so will not review until later.

    Thx

  6. Posted by Guest I Guess... | July 30, 2014 at 4:11 PM

    if he wants it, he can come get it… in puerto rico.

  7. Posted by flappy bird | August 3, 2014 at 3:56 AM

    A very good and informative article indeed . It helps me a lot to enhance my knowledge, I really like the way the writer presented his views. I hope to see more informative and useful articles in future.