Hedge Funds Performance

Third Point gains 3.8% in January


Dan Loeb’s Third Point is off to a strong start after a flat 2011.

   Dan Loeb
Investors who allocated to Dan Loeb last year, boosting Third Point’s assets by 77%, are already enjoying a happy new year. The flagship Third Point Offshore Fund gained an estimated 3.8% net of fees in January, according to an investor communication, and the levered Third Point Ultra rose 5.8%.

The offshore fund gained just 0.4% in 2011. In November, Third Point won event driven hedge fund of the year at the 2011 AR Awards for a second consecutive year, beating out ECF Value Fund, JANA Partners, Litespeed Partners, Pentwater Event Fund, and