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Dan Loeb Going Into Fintech Because What Else Is He Gonna Do With All That Nervous Energy?

Even screwing with Bill Ackman has diminishing returns at this point.
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Last year, Dan Loeb bought $3.5 billion worth of Nestlé shares. This was apparently enough to give him one hell of a contact sugar high, because ever since then he’s been a little hyperactive. He’s very happy those Swiss master confectioners have seen the wisdom of his ways, but they need to do it faster faster faster faster now. In the meantime he’s been working on some great scripted drama pitches, spent a little too much time on social media and concocted what we can only assume is the mother of all Bill Ackman burns. Still, there was nervous energy left to burn off, so Dan Loeb got to work on a sizeable SPAC. And what else would a restless and overeager hedge-fund billionaire spend his $400 million blank check on than fintech?


The hedgie behind Third Point is looking to raise $400 million for Far Point Acquisition Corp., a so-called “blank check” acquisition company, he revealed in a regulatory filing…. “We believe that there are many potential targets within the fintech space that could become attractive public companies,” the filing said, citing a nearly threefold growth in global fintech investments between 2010 and 2016.

Dan Loeb wants to raise $400M to target fintech [N.Y. Post]



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By Captain USA (Own work) [CC BY-SA 3.0], via Wikimedia Commons

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