Posts tagged 'Pershing Square Capital'

Ackman vs…Albright

Paul Murphy is the founding editor of FT Alphaville.

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| Jan 03 10:00 | Comment |

Via John Hempton’s Bronte Capital…

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Ackman eyes $3bn of permanent capital

Tracy Alloway used to be deputy editor of FT Alphaville. Here she learned the details of derivatives, the absurdities of accounting and the various structures of ... erm ... structured finance. She now covers big US banks for the FT paper, including Goldman Sachs and Morgan Stanley. She pops up on FT Alphaville every once in a while.

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| Jun 17 2011 09:42 | Comment |

Bill Ackman is considering launching an IPO of a new fund to raise as much as $3bn in permanent capital for investments, the FT says. The activist investor, whose hedge fund Pershing Square has $10bn under management, laid out his desire for a reliable source of capital in a letter sent to investors on May 25. Finalternatives adds that the Ackman is currently in talks with investors about a closed-end permanent capital vehicle, although nothing has been finalized. The activist firm could list a fund by the end of this year, although an early 2012 listing is also possible. DealBook notes that so-called ‘sticky money’ or permanent capital has become a hedge fund obsession in recent years. Read more

Target 1, Ackman 0

| May 28 2009 21:57 | Comment |

Bill Ackman cannot be pleased. Target’s shareholders on Thursday voted to re-elect its four incumbet directors, defeating the fiery hedge fund manager’s proxy contest to achieve five seats on the retailer’s board.

Ackman, whose Pershing Square Capital has a 7.8 per cent stake in Target, launched the proxy contest in March after Target rejected his proposal to spin off its land holdings into a REIT. Read more