Third Point Management is a New York-based hedge fund founded by Daniel S. Loeb in 1995. It has returned over 25% annually to investors, and as of September 2014, its assets under management has reached $17.5 billion. It "deploys a value-focused strategy that invests in companies undergoing events such as spinoffs or bankruptcies and pushes for corporate change".According to Forbes, Third Point “had a fabulous year in 2012”, when it “beat the U.S.