Third Point Among Hedge Funds Backing Blank-Check Companies

Dan Loeb’s firm is playing a significant role in a new special-purpose acquisition company, making it one of many hedge fund firms to get in on the trend.

Thomas Farley, CEO of Far Point Acquisition Corporation (Chris Goodney/Bloomberg)

Thomas Farley, CEO of Far Point Acquisition Corporation

(Chris Goodney/Bloomberg)

Hedge funds are looking to get involved in the sponsorship of the booming blank-check market.

New issues of so-called SPACs — or special purpose acquisition companies — are on pace to possibly top records set last year, when 73 deals went public, raising $14.8

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