Third Point Reports Losses, Investigation

SEC probing dealings with other hedge funds, CEO Loeb tells investors.

Daniel Loeb, CEO of the $5.6 billion New York–based activist hedge fund firm Third Point, has revealed in a letter to investors that his funds had suffered from a sharp reversal in energy and financial stocks during the first three full weeks of July, sustaining losses “in the high single digits” that effectively erased all of its gains for the quarter.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.

Related