Saturday, 30 May 2015
Last updated 15 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…