Dan Loeb’s Third Point has bolstered its private credit capabilities with the recruitment of three senior professionals from Apogem Capital, marking the hedge fund’s latest move into direct lending, according to a report by Bloomberg.

Richard Eddison, Tim Day, and Will Raul have joined Third Point as managing directors, reporting to Sunil Mehta, the firm’s head of direct lending and originations. Mehta, along with Christopher Taylor – who leads the private credit team – both previously held senior roles at Apogem, highlighting a continued talent pipeline from the boutique firm.

The hires strengthen Third Point’s private credit platform, which manages approximately $23bn in assets. The fund recently closed a $400m insurance solutions vehicle, its first rated private credit fund targeting insurance company investors.