Investors want more of activist hedge fund manager Dan Loeb , and they're putting up lots of cash to prove it.
Loeb's Third Point pulled in $2.5 billion in fresh cash from investors in just two weeks, according to a person familiar with the situation.
A spokesman for Third Point declined to comment. The news was first reported by The Wall Street Journal.
The new capital brings the firm's total assets under management to $17.5 billion from $15 billion. The money will go into Third Point's sole fund, according to the person.
Third Point's Offshore Fund is up 6.4 percent this year through August, according to investor materials. That compares with a 9.9 percent rise for the S&P 500 index. Loeb's annualized return net of fees since inception in December 1996 is 17.7 percent, compared with 7.6 percent for the S&P 500 over the same period.
Today, the fund has about 62 percent of its capital in stocks, mostly of companies over $10 billion. Third Point has about 27 percent of the portfolio exposure in credit, according to the materials.
-By CNBC's Lawrence Delevingne