No Thanks For Donor Ackman At Theater Opening

Feb 1 2012 | 2:34am ET

What's a guy got to do to get some Congressional thanks? More than give a New York theater company $25 million, apparently.

At yesterday's grand opening of the Pershing Square Signature Theatre on 42nd Street, Rep. Jerry Nadler (D-N.Y.), whose district encompasses the Frank Gehry-designed theater complex, made sure to thank those who helped make it a reality. He offered gratitude to Mayor Michael Bloomberg and City Council Speaker Christine Quinn and actor Ed Norton. But he forgot to mention the man Norton convinced to make the Signature Theatre the Pershing Square Signature Theatre—Pershing Square Capital Management founder William Ackman.

The charitable arm of Ackman's hedge fund gave the center $25 million to keep tickets at the Signature affordable for the next 20 years.

A Nadler spokesman told the New York Post that the congressman's omission was an "oversight" and that "he has nothing against the guy. He's very thankful and appreciative."


In Depth

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...