Pershing Square International Loses 2.2% In May

Jun 4 2010 | 11:48am ET

William Ackman's Pershing Square International took a hit in May, losing -2.2% net. But news isn't all bad for the hedge fund giant.

The year-to-date returns for the international fund stand at 5.9% net, according to an investor letter obtained by Wall Street tabloid Dealbreaker.

The international fund, which invests in commercial services, financial services, the food and beverage sector, real estate investment trusts, restaurants and retail is long credit default swaps with a notional exposure of approximately $3.2 billion. It currently has $4.1 billion in assets under management.

May proved tough for many of Pershing Square's peers, with firms such as Third Point, Paulson & Co, SAC Capital Advisors and Citadel Investment Group bleeding red during the month. According to the HFRX Global Hedge Fund Index, the average hedge fund lost -2.64% in May.

Pershing Square Capital Management (which includes Pershing Square, L.P., Pershing Square International, Ltd. and Pershing Square II, L.P) has assets under management totaling approximately $6.5 billion.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note