Sat, May 30, 2015
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 Ė 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, Loebís new Third Point Hellenic Recovery Fund will be banking on the same strategy over last yearís Greek rescue by the EU which drove Third Pointís 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 Loebís 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. Opalesque Exclusive: New TMT hedge fund adopts the long-term approach[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Adam Parker founded Center Lake Capital LLC in New York in November 2014. Before that, he was portfolio manager at Point State Capital (the successor fund to Dr

  2. Regulatory - Hedge funds face tax as Iceland poised to end capital controls, Comment: Why alternatives need more transparency, not enforcement[more]

    Hedge funds face tax as Iceland poised to end capital controls From Bloomberg.com: Hedge funds and other investors who bought claims against Icelandís failed banks face a tax that targets the lendersí estates as the government prepares to unveil its plan for exiting capital controls in t

  3. Investing - Nelson Peltzís Trian Fund Management reduces position in Legg Mason, Biotech investors up big amid bubble talk, Hedge funds increase exposure in healthcare[more]

    Nelson Peltzís Trian Fund Management reduces position in Legg Mason From Octafinance.com: Trian Fund Management has filled a SC 13D/A form regarding Legg Mason, Inc. Per Nelson Peltzís Trian Fund Managementís filing, the filler reported decreased stake in the company by -11.05% to 11,03

  4. All hedge fund strategies rebounded last week as market conditions normalize[more]

    Komfie Manalo, Opalesque Asia: After a difficult start this month, all hedge fund strategies ended last week in positive territory, as the Lyxor Hedge Fund Index gained 0.9% (-0.2% MTD, 3.3% YTD). According to Lyxor AMís latest Weekly Briefing, in t

  5. Billionaire hedge fund investor Odey says April 'bloody', has cut risk[more]

    From Reuters/Yahoo.com: Billionaire hedge fund manager Crispin Odey has cut risk and leverage following a stunning 19.3 percent loss in his 3.1 billion euros (2 billion pounds) Odey European Inc fund in April, a letter to investors seen by Reuters showed. Describing the month as "bloody", Odey

 

banner