Saturday, 20 December 2014
Last updated 13 hours ago
Feb 5 2014 | 9:39am ET
Pershing Square Capital Management's second-half revival extended into January, as the New York-based activist hedge fund rose 3.8% to open 2014.
Pershing Square did not elaborate on how it made the return as the Standard & Poor's 500 Index dropped by nearly as much. But the firm profited from Suntory Holdings' deal for distiller Beam Inc., which counts Pershing Square as its largest shareholder. Other constituents of firm founder William Ackman's concentrated portfolio also did well, including Burger King Worldwide, which rose 6.08% last month.
Pershing Square returned 9% last year, with most of the gains coming in the second half—and in spite of huge, highly-publicized losses on Herbalife and J.C. Penney Co.
Pershing Square's offshore International Fund rose 4.1% on the month.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.