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)
TPRE-Investor-Presentation-Sept-2014_v001_n5w7gf
Third Point Reinsurance TPRE Investor Presentation Sept 2014 v001 n5w7gf
