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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.