Third Point Management has entered as an activist investor in Salesforce, the American cloud-based software company. With the entry of Third Point now Salesforce has five shareholders, Elliott Investment Management, Starboard Value, Inclusive Capital, and ValueAct Capital Partners. 

In the last year, Salesforce suffered from a 48 percent fall. In recent January, the company made a decision of letting go of around 10 percent of its total employees which resulted in a 3 percent rise. 

Marc Benioff, the co-founder, and CEO of salesforce said that the environment remains challenging and the company’s customers were taking a more measured approach in their purchasing decisions. 

What Is Third Point Management?

Third Point Management: Bio

Third Point Management is a hedge fund primarily in the investment management industry. 

It is headquartered at 55 Hudson Yards, New York City, U.S. 

The company predominantly offers services in investment advisory and portfolio management. 

Third Point was founded in 1995.

Third Point Management: Assets Under Management (AUM)

As of the data compiled on April 30, 2022, the company has an estimated 15.9 billion US dollars worth of assets under management (aum). The company handles assets for sovereign wealth funds, corporate pensions, public pensions, endowments, fund of funds, foundations, and individuals with high net worth profiles. 

Third Point LLC serves as an investment adviser that is SEC registered. The company advertises that it focuses on event-driven, value-oriented investing. 

The company is privately held and has over 200 employees. 

Third Point Management: Key People

The founder of Third Point LLC is Daniel S. Loeb.

Loeb now holds the position of Chief Executive Officer (CEO) and Chief Investing Officer (CIO) at Third Point. 

Josh Targoff is the Chief Operations Officer (COO) at Third Point.

Tragoff also serves as the General Counsel.

The partners of Third Point are Josh Targoff and Ian Wallace.

Daniel S. Loeb, the founder, and CEO about the values of the company said that its values focus on continual self and organizational improvement. 

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Third Point Management: Team Structure

Third Point Management has an apex team carrying out the top-level operations and a secondary team assisting the former team.

Third Point Management: Team: Tier 1

Third Point management has an expert team at the apex level that specializes in various fields such as

• risk management, 
• investment activity, and 
• trading.

Third Point Management: Team: Tier 2

The apex team is backed up by a secondary team that consists of professionals in 

• investor relations,
• investor marketing, 
• legal and compliance, and 
• accounting and operations.

Third Point Management: Investment Approach

Third Point has adopted Event Driven Investment strategy as its investment approach. 

What Is Event Driven Investment strategy?

Event Driven Investment strategy is the investment strategy in which the institutional investor chooses to make a profit out of a stock mispricing that might arise as a result of a corporate events such as acquisitions, mergers, takeovers, restructurings, spinoffs, bankruptcy, and so on. The strategy can be applied also while the event is taking place. 

Generally saying this strategy tries to take advantage of stock mispricing. 

How Does Third Point Management Employ The Event Driven Investment Strategy?

Third Point has a dedicated team to identify the corporate events and it employs a recognizable catalyst that would unlock the value. 

The company has been focusing to deliver exceptional risk-adjusted returns with limited market exposure. 

Third Point Management: Investments

Third Point Management has made investments in

• public equity, 
• fixed income, and 
• American Depository Receipt (ADR).

• Third Point Management oversees

• Third Point Reinsurance.
• Third Point Offshore Investors, a close-ended feeder fund. 

Third Point Management: Third Point Investors Limited (TPIL)

Third Point Investors Limited provides access to the flagship fund of Third Point LLC, is an LSE-listed fund based in Guernsey. It has Rupert Dorey as its Chairman, Richard Boléat as its Director, and Huw Evans as its other Director. 

Third Point Management: Funds

• Third Point Partners, a non-life insurance provider or property and casualty reinsurer.
• Third Point Opportunities Master Fund.
• Third Point Ultra Master Fund.
• Third Point Resources.

Third Point Management: Third Point Ventures

Third Point Ventures is the capital arm of Third Point LLC. It is a capital market company led by Third Point head Daniel S. Loeb. The other members of the executive team are Robert Schwartz as the managing partner, Dan Moskowitz as a partner, Curtis Mckee as a partner, and Sapir Harosh as another partner. 

Third Point Management: Stakeholders

• Massey Energy
• Acorda Therapeutics
• Yahoo
• Sotheby’s
• Sony
• MGM
• Fanuc
• Ligand Pharmaceuticals
• Baxter International
• Nestle
• Netflix

Previously, Third Point had taken a stake in Disney. The company has investments in Intel and another that involves the former Meta executive Carolyn Everson. 

Third Point Management: Global Offices

The company has three other offices in the United States and three additional global offices.

Third Point Management: Office Sites In U.S.

• Sunnyvale, California
• Los Angeles, California
• Stamford, Connecticut

Third Point Management: Cross-Continental Office Sites

• Bangalore, India
• Hong Kong
• London

Read More: Elliot Investment Management: The Activist Investor Putting Salesforce Inc. Under Pressure