Third Point Investors Limited (TPIL), the London-listed vehicle of Daniel Loeb’s Third Point, has appointed Gary Dombowsky as Chief Executive Officer, as the firm prepares for a major transformation of its business model, according to a report by Reuters.
The appointment follows shareholder approval in August for TPIL’s acquisition of Malibu Life Reinsurance SPC, a deal that will see the fund repositioned as an insurance holding company. Post-transaction, TPIL will expand into asset-backed credit and corporate debt, a move designed to help narrow the discount between its market valuation and the performance of Loeb’s flagship New York-based hedge fund.
Dombowsky will join TPIL’s board alongside two other directors once the deal closes and the company is admitted to the Financial Conduct Authority’s official list, expected on 12 September.
