Friday, 1 July 2016
Last updated 17 hours ago
Aug 27 2014 | 7:17am ET
Pershing Square Capital Management’s winning streak continued this week, and has the hedge fund up about 30% on the year.
The New York-based hedge fund, up 27.2% through July, added to those gains with the news that Burger King Worldwide would buy Canadian doughnut chain Tim Hortons in a tax-inversion deal. BK shares soared, earning Pershing Square in excess of $200 million.
Pershing Square engineered Burger King’s return to the public markets in 2012 through a reverse-merger with its Justice Holdings blank-check company. The hedge fund owns a nearly 11% stake in BK.
Other winners for Pershing Square this year have been Allergan Inc., Fannie Mae, Freddie Mac and Herbalife Inc.