A short investor presentation from Dan Loeb’s Third Point Reinsurance, nothing too exciting, but it sheds some light on Loeb’s investments, the re-insurer and readers usually like the slides so enjoy (see returns through August 2014 here).

  • Third Point LLC owned and led by Daniel S. Loeb

 

  • 21.1% net annualized returns since inception in 19955

 

  • Risk-adjusted returns driven by superior security selection and lower volatility
  • Exclusive relationship through 2016, followed by successive 3-year terms on renewal

 

  • Investments are managed on substantially the same basis as the main Third Point LLC hedge funds

 

  • We pay the standard 2% management fee and 20% performance allocation. The performance allocation is subject to a standard high water mark

 

 

 

  • Restrictions on leverage, position concentrations and illiquid, private investments

 

  • Key man and performance termination provisions

 

  • Allowed to diversify portfolio to address concerns of A.M. Best or regulator(s)

 

 

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Third Point Reinsurance TPRE Investor Presentation Sept 2014 v001 n5w7gf

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