Third Point Investors continues weighing up its strategic options
Third Point Investors Ltd on Wednesday reported strong year-to-date net asset value returns as it revealed ‘good progress’ with its Strategy Committee.
The feeder fund that invests in the Third Point Offshore Fund said the Committee has identified ‘a number of credible strategic options’, adding that one specific option is undergoing due diligence and assessment with the relevant findings and recommendations to be presented to the board in the first quarter of 2025.
The committee was announced back in April in response to the company’s significant discount to NAV and was set up to evaluate all possible options to deliver value for shareholders ‘including offensive M&A opportunities, investment strategy mixes, corporate continuation votes or further tenders, and potentially other innovative options.’
According to the firm’s net asset value of $32.57 on December 4, the firm’s discount sits at approximately 25%.
Its shares fell 0.8% to $24.40 on Wednesday afternoon in London.
The firm said a further update on its strategy review will be provided in early April next year.
Third Point also reported year-to-November 30 net asset value returns of 27%, coupled with a 39% return since June 1 2023.
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