Tuesday, 31 March 2015
Last updated 5 hours ago
Apr 3 2013 | 10:11am ET
Soros Fund Management has moved to redeem several hundred million dollars from Pershing Square Capital Management, amidst several prominent battles for the activist hedge fund.
New York-based Soros has made the withdrawal requests over the last several months, The Wall Street Journal reports. It is unclear why the firm, now a family office, has decided to pull the money from Pershing Square.
What is clear is that Pershing Square and founder William Ackman have been active in recent months. Most notably, Ackman has engaged in a war of words with nutritional supplements company Herbalife, and with longtime nemesis Carl Icahn. Ackman has accused Herbalife of being a pyramid scheme.
While his bet against Herbalife has earned Pershing Square investors a $200 million paper profit, things have gone less well with another of the hedge fund's major investments: retailer J.C. Penney. Ackman has lost about $500 million on paper on Penney, where he's installed a new CEO.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…