Friday, 6 March 2015
Last updated 1 hour ago
Dec 4 2013 | 2:17pm ET
When Pershing Square Capital Management has been in the news this year, the news has been almost uniformly bad. The hedge fund's $1 billion short against Herbalife Inc. has suffered a $500 million paper loss and dragged firm founder William Ackman into a nasty public feud with Carl Icahn. And Pershing Square's huge investment in J.C. Penney Co. also cost it a half-billion dollars this year.
But in spite of those sizeable setbacks, the $12 billion New York-based firm is poised to post very respectable returns, indeed, this year. Pershing Square's flagship hedge fund is up 10% this year after rising 1.4% last month, easily topping most industry indices.
Pershing Square's offshore International Fund is nearing double digits, up 9.4% after a 1.2% jump in November.
Most of the firm's turnaround is due to its 7.9% return in October.
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…