Third Point LLC – Dan Loeb

Third Point, L.L.C. is a New York, NY-based hedge fund management firm founded by Daniel Seth Loeb in 1995. The firm manages the Third Point family of hedge funds and the Points West International Investments, Ltd.

daniel-loebDaniel Seth Loeb has Net Worth of $1.3 Billion. He was born December 18, 1961 and he’s a hedge fund manager and founder of Third Point LLC.

Third Point Earnings: $425 million  as the hedge fund firm had a fabulous year in 2012. His flagship hedge fund beat the U.S. stock market, which most hedge funds failed to do, with a 21.2% net return. His smaller leveraged fund was one of the best-performing hedge funds in 2012. The New York investor has enjoyed big years before, but now he is managing $10 billion. He made money betting on Greek sovereign debt and on a couple of activist positions. Loeb led a successful effort to dislodge Scott Thompson from the CEO position at Yahoo and replace him with Marissa Mayer. The stock has been a winner for Loeb as has his activist position in Murphy Oil. Now 51, Loeb made news early in 2013 by taking a position in Herbalife, the nutritional supplements seller, shortly after another prominent hedge fund manager, William Ackman, called the company a pyramid scheme.

loebThird Point, L.L.C. invests globally and in domestic companies, using a long/short event driven and value-oriented approach, across all industries. The firm’s short-hedging strategies will short overvalued companies or companies displaying characteristics such as negative operating cash flow; excessive debt, deteriorating fundamentals and accounting problems. Third Point also invests in event driven situations such as mergers, acquisitions, tender offers, recapitalization, spin-offs, exchange offers, and liquidations. The firm also invests in distressed debt and special situations. Third Point is a shareholder activist taking large stake investments owing more than 5% of outstanding shares.
The firm’s investment team conducts meetings with company management and participates in earnings conference calls.

Daniel S. Loeb is the chief executive officer, a director of research and a chief investment officer for equity and fixed income at Third Point, L.L.C. Prior to founding the firm in 1995, Mr. Loeb was a vice president at Citicorp, Inc. Previously, he was an analyst at Jefferies & Co. Earlier, Mr. Loeb was also employed at Lafer Equity Investors and E.M. Warburg, Pincus & Co.
Education: Mr. Loeb obtained a B.A. in Economics from Columbia University in 1984.

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