Fri, Dec 9, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Dan Loeb to launch Greek-focused hedge fund

Thursday, April 11, 2013

From Precy Dumlao, Opalesque Asia – Activist hedge fund manager Dan Loeb is launching a new hedge fund focused on buying Greek assets on the assumption that the European Union will bailout the troubled economy.

In a report by Businessweek, Loeb’s new Third Point Hellenic Recovery Fund will be banking on the same strategy over last year’s Greek rescue by the EU which drove Third Point’s profits in 2012.

It described the new fund as an "event-driven corporate situations" fund and added that Third Point would invest less than 1.5%of the assets in its existing hedge funds in the new pool and would raise additional money from institutional investors.

According to Loeb’s letter to investors, its Greek fund would use a so-called drawdown structure and would release capital as investment opportunities arise.

In its shareholder letter last February, Third Point reported that its assets rose nearly $400m in one month to a record $11.6bn. The flagship third point hedge fund has AUM of $5,686bn, another record for the event/driven value oriented hedge fund. The hedge fund was up 1.2% in February bringing total returns for 2013 to 6%, reported ValueWalk.com.

The hedge fund has a CAGR return of 17.8% compared to the S&P 500 of 6......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest