Pershing Square's First Analyst To Launch Hedge Fund

Jul 23 2012 | 12:16pm ET

Scott Ferguson, who has been with Pershing Square Capital Management since before day one, is leaving the hedge fund to found a hedge fund of his own.

The first analyst that Pershing Square founder William Ackman hired plans to launch an activist firm similar to the one he's worked at for almost nine years. Ferguson, who was hired in September 2003, four months before Pershing Square's debut, will leave the New York-based firm by the end of the month, Pershing Square told investors.

Ferguson's still unnamed fund will seek value opportunities and push for changes at investment companies. It is expected to debut next year, Bloomberg News reports.

In the letter, Ackman said he agreed that the time had come for Ferguson to start his own firm.

"In recent years, Scott and I have discussed the potential for him to leave Pershing Square and form his own firm," Ackman wrote. "Recently, Scott and I concluded that now, at 38 years of age (I launched Pershing Square just shy of 38), would be a good time for him to take the next step in his career."

Ferguson, who is now a partner at Pershing Square, handles research across industries at the firm. Pershing Square's clients may also still profit from his work, as Ackman said he and Ferguson could work together on activist cases, as he has done with former Pershing Square partner Mick McGuire's Marcato Capital Management.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

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

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.