Third Point Offshore Investors fetched $525m (€380.5m) in its global initial public offering, falling short of the hedge fund's goal in what has been a mixed market for alternatives flotations.

The Guernsey-based feeder fund founded by Daniel Loeb, which does its investing through the Cayman Islands-based master fund, Third Point Offshore Fund, fell 24% short of its $700m fundraising target. Both are owned by Loeb's US hedge fund Third Point.