Pershing Square Up Nearly 19% After Allergan Surge

May 2 2014 | 2:16pm ET

Pershing Square Capital Management’s small March drop proved just a hiccup as the hedge fund rallied last month.

The activist hedge fund jumped 7.3% in April, The Wall Street Journal reports. The firm’s Pershing Square L.P. fund is up 18.7% on the year.

Pershing Square’s April jump was fueled by its investment in Botox-maker Allergan Inc. The hedge fund announced last month that it had teamed with Valeant Pharmaceuticals International to take a nearly 10% stake in Allergan, and that it was backing Valeant’s hostile takeover bid.

Pershing Square dipped 0.6% in March. The fund returned 3.8% in January and 7.3% in February; it was up 9% last month.

Allergan is Pershing Square’s largest-ever investment, and word of the hedge fund’s partnership with Valeant sent the company’s shares up sharply.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...