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Dan Loeb’s hedge fund Third Point netted a $300 million profit from Rivian’s IPO, report says

November 24, 2021

Third Point, the hedge fund of billionaire investor Daniel Loeb, scored a $300 million gain from electric-vehicle startup Rivian’s blockbuster IPO earlier this month, according to the Financial Times.

The FT reported that Third Point, which has $20 billion under management, won big after making a number of investments over the last year. The newspaper cited investor letters and a person with knowledge of the matter.

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