Billionaire hedge funder Dan Loeb is looking to play in the emerging financial technology space.
The hedgie behind Third Point is looking to raise $400 million for Far Point Acquisition Corp., a so-called “blank check” acquisition company, he revealed in a regulatory filing.
The entity has not yet identified companies to target, but it was clearly bullish on the opportunities available in fintech — including payments, wealth management and even cryptocurrencies, according to the Tuesday filing.
“We believe that there are many potential targets within the fintech space that could become attractive public companies,” the filing said, citing a nearly threefold growth in global fintech investments between 2010 and 2016.
The endeavor will be led by Thomas Farley, who until Monday was president of the NYSE Group of Intercontinental Exchange. Stacey Cunningham, who served as chief operating officer of NYSE, took over for Farley — becoming the first woman to lead the Big Board.
Farley’s “extensive relationships” will provide the entity “with unique insight and access to potential opportunities” in fintech, the filing said.
Reps from Third Point did not immediately respond to requests to comment.