Hedge Funds Performance

Third Point surges to $6.7 billion, adds to research team


Dan Loeb’s fund increased assets by nearly $2 billion in the first quarter.

Dan Loeb’s Third Point has increased assets by nearly $2 billion in 2011 to $6.7 billion as of April 8, according to the firm’s first quarter investor letter.

Third Point managed $4.8 billion on January 1, according to AR’s Billion Dollar Club. Some of the asset growth is from strong performance—the Third Point Offshore Master Fund is up 8.6% through March, according to the letter—but the bulk appears to be from fundraising. The fund grew approximately $500 million since March 31 alone, when assets under management were $6.2 billion.

The incredible increase in assets during the past two years—Third