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Third Point’s Loeb Opposes Teachers Union Over Pensions

Daniel Loeb, founder of Third Point LLC, is escalating a battle between hedge-fund managers and American Federation of Teachers President Randi Weingarten over public-worker pensions.

Loeb, who manages $13.6 billion, had fellow hedge-fund chiefs Paul Tudor Jones, David Tepper and Paul Singer applauding in the ballroom of Manhattan’s Mandarin Oriental Hotel last month as he donated an extra $1 million to a group of charter schools to show his opposition to the head of the second-biggest U.S. teachers union.