June 1, 2017 / 12:31 PM / 4 months ago

Third Point hedge funds gain in May: investor update

Hedge fund manager Daniel Loeb speaks during a Reuters Newsmaker event in Manhattan, New York, U.S., September 21, 2016. REUTERS/Andrew Kelly

BOSTON (Reuters) - Billionaire investor Daniel Loeb’s hedge funds continued to make money in May, leaving its Third Point Partners L.P. fund up 9.9 percent for the year and its Third Point Ultra Ltd. up 16.1 percent, according to an investor update.

In May the Partners fund gained 2.1 percent while the more aggressive Ultra fund gained 3.5 percent. Third Point manages $16 billion in assets.

Reporting by Svea Herbst-Bayliss; editing by Scott Malone

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