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Pershing Square later reduced its stake in Procter & Gamble, which was valued at around $60 million by the end of 2013. [19] In December 2012, Pershing Square Capital Management launched a new closed-end fund called Pershing Square Holdings, which raised $3 billion in an October 2014 IPO on Amsterdam's Euronext stock market. [20]
Closed-end funds are traded on exchanges, and in that respect they are like exchange-traded funds (ETFs), but there are important differences between these two kinds of security. The price of a closed-end fund's shares is completely determined by investor demand, and this price often diverges substantially from the NAV of the fund assets.
Pershing Square Holdings is a large Guernsey investment trust dedicated to long-term investments in North American companies. Established in 2012, the company is a constituent of the FTSE 100 Index. The chairman is Anne Farlow. The fund is managed by Bill Ackman of Pershing Square Capital Management. [1] [2]
Pershing Square, which Ackman founded two decades ago, is raising $1.05 billion from a funding round valuing the firm at about $10.5 billion. The undisclosed buyers are set to acquire a 10% stake ...
Pershing Square, founded in 2004, also is considering an IPO that most likely wouldn't happen until 2025 at the earliest. Bill Ackman selling 10% of Pershing Square in deal that values hedge fund ...
With so many different investments to choose from, it can be hard to know all of them. But with some little-known investments like closed-end funds, the opportunity comes from most people's ...
Ackman's fund spent only $27 million to make $2.6 billion in early 2020, and paid under $400 million for hedges worth around $2.7 billion today.
In January 2004, the company financed Pershing Square Capital Management, a hedge fund managed by Bill Ackman. [19] In July 2004, the company sought, but failed, to buy a controlling stake in MCI Communications. [20] In September 2004, the company sold its stake in MCI for a $20 million profit. [21]
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