Pershing Square Off In March, Up 10.7% In Q1

Apr 3 2014 | 11:28am ET

Pershing Square Capital Management lost some ground in March, but not enough to deprive the New York-based firm of a double-digit return in the first quarter.

Pershing Square’s flagship fund fell 0.6% last month, it told investors yesterday. The decline left the fund up 10.7% on the year.

March proved a mixed month for the $13.1 billion firm. After more than a year of agitation for such a probe, the Federal Trade Commission last month opened an investigation into Herbalife, the nutritional supplements company that Pershing Square calls a pyramid scheme—and which it has a $1 billion short bet against. But its Herbalife gains were tempered by big losses on government-backed mortgage giants Fannie Mae and Freddie Mac. Pershing Square owns more than 10% of each company, betting they’ll survive plans to replace them. But their shares plummeted when a bipartisan deal to replace them emerged in the U.S. Senate.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note