Reuters- U.S. hedge fund Third Point said on Thursday it plans an initial public offering in London to raise about 500 million euros (337 million pounds), bringing one of the most aggressive activistinvestors to Europe.
Daniel Loeb, the firm’s chief investment officer, has built a reputation for his brazen attacks on corporate executives, often using colourful language and forceful tactics to pressure companies to change their management or strategy.
In one recent note, he warned a board: “Do not make the mistake others have made by underestimating my resolve…”
Third Point will launch an IPO of its Third Point Offshore Investors Ltd fund on the London Stock Exchange, offering ordinary shares in euros, U.S. dollars and sterling.
“We believe that we will be the first U.S. hedge fund to list a single manager fund on the London Stock Exchange,” Loeb said, adding that over 10 years the Third Point Offshore fund has had an annual average return of 23.1 percent net of all costs and expenses.
