Third Point Hedge Fund Seeks to Raise More Than $500 Million
- Structured credit fund started with $380 million on June 1
- Third Point disclosed plan to start the hedge fund in April
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Billionaire Dan Loeb’s Third Point is seeking to raise more than $500 million for a new hedge fund to wager on structured credit markets which imploded during the coronavirus market turmoil.
The Third Point Structured Credit Opportunities Fund started fund raising on June 1 and has collected about $380 million, according to an investor update seen by Bloomberg. A spokesman for the New York-based investment firm declined to comment.