Deals
Ackman Says Secret Pershing Stake Up 30%, 2 Targets in View
- Billionaire spoke on first-quarter call for public fund
- Hedge fund evaluating two potential new activist targets
Bill Ackman
Photographer: Jin Lee/BloombergThis article is for subscribers only.
Activist investor Bill Ackman, reeling from a $4 billion loss on a controversial pharmaceutical investment, said his newest holding has soared since his Pershing Square funds bought a stake.
The investment, which he hasn’t identified, has gained about 30 percent and already comprises about 5 percent of the hedge fund’s capital, he said. The firm isn’t yet required to disclose the name of the company “for regulatory reasons,” Ackman told investors Wednesday.