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Deals

Loeb's Third Point took new position in CoStar in first quarter - letter

BOSTON (Reuters) - Billionaire investor Daniel Loeb’s hedge fund Third Point made a new bet on real estate information company CoStar Group during the first quarter and continues to back ride hailing giant Grab Holdings, which will list through a merger with a blank check company.

“We think CoStar is an exceptionally high-quality ‘compounder’ in the early innings of a transformational new opportunity which could meaningfully accelerate earnings growth,” Loeb wrote in a letter to investors and seen by Reuters.

Reporting by Svea Herbst-Bayliss; Editing by Chris Reese

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