Daniel Loeb’s Third Point, managed by his New York-based hedge fund firm of the same name, rose about 1.6 percent in August, pushing up its gains for the year to 5.9 percent. The results were reported by Third Point Reinsurance Ltd.’s investment account, which is managed by Third Point LLC. The S&P 500 gained 3.8 percent in August and 8.4 percent for the first eight months of the year.
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John Burbank III’s Passport Capital led a recent $85 million Series D round of fund-raising for JustFab, a Manhattan Beach, California online fashion retailer, according to crunchbase.com. According to the report, the company is now valued at slightly more than $1 billion.

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The share of hedge fund industry assets invested by institutions has slipped to 63 percent of the total from 65 percent, according to a new report from London-based data tracker Preqin. It attributes the decline to large inflows from wealthy individuals and other private sources in the first half of the year. In a survey of more than 100 hedge fund firms, Preqin found that 43 percent have capital from retail clients, and 47 percent of these firms said they saw their capital from this source increase in the first half of the year. What’s more, 36 percent of the survey participants said they expect “a significant increase” in capital from retail investors over the next three years, while 46 percent are anticipating an increase, but by a small amount. “Interest from a wider group of investors, particularly those in the private wealth arena and retail clients, is leading to a proliferation of new structures, in particular liquid alternatives, to cater to new markets,” Preqin states in a press release. “This is providing more product options to all hedge fund investors and has been a notable driver in the growth in assets in the hedge fund sector.”

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Separately, Preqin reports that the $273 million Pennsylvania Turnpike Commission Retiree Medical Trust is looking to place $13 million with hedge funds over the next 12 months after doubling its hedge fund target allocation from 5 percent to 10 percent of total assets. The pension requires its fund managers to have at least $5 billion in assets under management and at least a 10-year track record.

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Total hedge fund assets invested in emerging markets funds rose by $9 billion, to more than $184 billion at the end of the second quarter, according to Chicago-based data provider HFR. The increase was entirely due to performance, as net outflows amounted to nearly $200 million. Meanwhile the total number of emerging markets hedge funds increased to more than 1,150, which HFR says is a new record.