Looking back at Third Point’s surge and Stenham Gold’s record rise

June 08, 2011   Lawrence Delevingne

AR also revisits Pine River’s rural growth and a Canyon émigré.

One year ago

»» Dan Loeb's Third Point topped AR's list of brand-name funds with double digits gains for the year.

That success has continued in 2011. The Third Point Offshore Fund is up 9.5% for the year through May, and the firm recently announced it will soon close to all new investments following a rapid rise in assets to $7.2 billion.

»» AR profiled $1.8 billion Pine River Capital Management, which was founded in a rural Minnesota cabin in 2002 with $5.3 million.

Pine River has since flourished, growing to $4.4 billion as of May. The flagship multistrategy vehicle, Nisswa Fund, is up 8.32% through May, according to the AR Database (full stats available).

Five years ago

»» Steve Bardack, a senior technology analyst at Canyon Capital Advisors, left the $8.1 billion Los Angeles hedge fund shop to start technology long/short equity firm Strata Capital Management.

Since inception, the flagship Strata Fund has produced a net annualized return of 7.08%, according to the AR Database (full stats available). The flagship Strata Fund managed $86.5 million as of December.

AR profiled Canyon in its June cover story, "Canyon’s capital matters."

»» Stenham Asset Management's SGL Gold fund of funds was up 11.19% in April on the back of a 25-year high for the precious metal.

Gold, of course, would continue to rise, and the firm would benefit. Stenham has produced a net annualized return of 15.04%, according to the AR Database (full stats available).



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