Launches & Closures Hedge Funds

Third Point to close to new investments


$7.2 billion is enough, says Dan Loeb.


Dan Loeb’s Third Point is closing to all new investments following a rapid rise in assets.

According to a letter sent to partners May 11, the hedge fund firm has reached approximately $7.2 billion in assets, up from $6.7 billion on just April 8. Third Point’s first quarter investor letter in April said the firm was closing to “new relationships,” but this appears to go one step further. (See AR’s “Third Point surges to $6.7 billion, adds to research team”)

The letter contained these details: “We have decided that July 1, 2011 will be