Tuesday, 23 September 2014
Last updated 4 hours ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.