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Dan Loeb Rides Niche Financials to First Quarter Gain

Third Point’s multistrategy fund continues to benefit from lesser known names.

Prudential was Third Point’s third biggest winner in March and fifth biggest for the quarter. (Victor J. Blue/Bloomberg)
Prudential was Third Point’s third biggest winner in March and fifth biggest for the quarter. (Victor J. Blue/Bloomberg)

Dan Loeb’s Third Point Offshore posted a 6.5 percent gain in March and is now up 11 percent for the year, according to a monthly client report seen by Institutional Investor.The multistrategy fund’s strong gains were heavily driven by its equity book for both the month and the quarter. However,

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