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 moreletters, 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]