Third Point Management
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| Industry | Investment management |
|---|---|
| Founded | 1995 |
| Founder | Daniel S. Loeb |
| Headquarters | New York City, U.S. |
| Products | Hedge fund |
| AUM |
 $17.5 billion |
| Website | www |
Third Point Management is a New York-based hedge fund founded by Daniel S. Loeb in 1995. The firm operates as an employee-owned and SEC-registered investment advisor with approximately $17 billion in assets under management. As of December 2016, it has returned an average of 15.7% a year since inception.
Third Point primarily invests in public equity, fixed income, and ADR markets globally and deploys an investment strategy that capitalizes on companies “undergoing events such as spinoffs or bankruptcies and pushes for corporate change". It also manages Third Point Reinsurance, a property and casualty reinsurer, and Third Point Offshore Investors, a UK-based closed-end investment company. Third Point’s funds include: Third Point Partners, Third Point Opportunities Master Fund, Third Point Ultra Master Fund and Third Point Resources. Third Point Ventures, its capital arm, invests in startup technology alternative energy and clean technology companies.
Headquartered in New York City, the firm also has 5 additional offices located in Sunnyvale, California; Los Angeles, California; Stamford, Connecticut; Bangalore, India; Hong Kong; and London.
After a proxy fight, Third Point announced in June 2006 that Loeb and an ally, Todd Q. Swanson, would join the board of Massey Energy, the fourth-largest coal producer in the United States. The New York Times reported that Third Point owned 5.9% of Massey and that Loeb had been “feuding with the company for several months”, criticizing the management and bringing attention to executive trips to the Bahamas, Las Vegas, and West Palm Beach, Florida, on the company jet.
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