Third Point Doubled Down on Credit

Why Dan Loeb’s multistrategy fund made a big bet on corporate credit and structured credit in March.

Dan Loeb (David Paul Morris/Bloomberg)

Dan Loeb

(David Paul Morris/Bloomberg)

Dan Loeb’s Third Point made a huge bet on credit amid the global market meltdown in March.

The multistrategy firm’s Third Point Offshore Fund invested $2.2 billion in structured and corporate credit securities in mid-March, “essentially doubling exposure,” according to the fund’s first-quarter letter dated April 16 and seen by Institutional Investor.


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