Friday, 6 March 2015
Last updated 51 min 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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…