Daniel Loeb’s Third Point LLC is starting a hedge fund
focused on buying Greek assets after a wager that European officials would
rescue the indebted nation from financial collapse helped drive gains last year
for his $11.7 billion investment firm.
The Third Point Hellenic Recovery Fund will invest in
“event-driven corporate situations,” the New York-based firm said in a letter
to investors yesterday. Third Point plans to invest less than 1.5 percent of
the assets in its existing hedge funds in the new pool and will raise
additional money from institutional investors, people concerned with the matter
told Bloomberg.…
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