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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of