Third Point said entities it managed have amassed a stake of just under 5% in Prudential

Hedge Funds

Former Reporter

Activist hedge-fund firm Third Point called on British insurer Prudential to separate its US and Asian operations, saying such a move would increase growth and drive value.

New York-based Third Point, led by chief executive Daniel Loeb, sent a letter Monday to Prudential’s board disclosing a stake of just under 5% that makes it the insurer’s second-largest shareholder.

Prudential should separate US and Asian businesses, Third Point says

Julie Steinberg

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