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Third Point Boosts Assets Managed to About $17.5 Billion

Third Point LLC, the hedge fund firm run by billionaire Daniel Loeb, boosted assets under management to about $17.5 billion after telling investors he would reopen to new money in July.

The fund raised about $2.5 billion, Elissa Doyle, a spokeswoman for Third Point, said in an e-mail. The Wall Street Journal reported the amount earlier today.