Sunday, 21 September 2014
Last updated 2 days ago
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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.