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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...