Loeb's Third Point to delve into private credit investing as a 'complement'

Hedge fund manager Daniel Loeb's firm Third Point will invest in private credit this year as it bets on positive conditions for both credit and equity markets in 2024. "We will be adding private credit as a complement to our existing strategies and expect to begin investing in this new sector in the next few months," Loeb wrote to investors in a letter seen by Reuters on Wednesday. Third Point, which invests roughly $10.6 billion in assets, posted a 3.6% gain in 2023.

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