Hedge fund manager Daniel Loeb raised $US2.5 billion over just two weeks in August, signaling investor appetite for shareholder activism investing, The Wall Street Journal reports.
According to The Journal, Loeb plans to use the capital by the end of the year to take activist stakes in companies in the U.S. and abroad.
The recent round of fundraising also brings Third Point LLC’s assets under management to $US17.5 billion, the report said.
Third Point’s Offshore Fund was up 6.7% year-to-date as of the end of August. The S&P was up 9.9 % during that same time.