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

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note