Sunday, 29 March 2015
Last updated 2 days ago
Jan 10 2008 | 4:50pm ET
After booking an impressive return last year, activist investor William Ackman is upping his stake in a major bookseller.
Ackman’s hedge fund, Pershing Square Capital Management, returned 22% last year, Bloomberg News reports. The $4 billion fund hit it big on bond isurers MBIA Inc. and Ambac Financial Group, as well as on companies less stung by the subprime and credit crises like McDonalds Corp. and Ceridian Corp.
Not everything came up roses for Ackman in 2007: His investment in retail giant Target Corp. lost almost half its value last year.
Pershing Square has also boosted its stake in Borders Group over the past several weeks. The hedge fund, which has said it is betting on a turnaround at the second-largest bookseller in the U.S. engineered by incoming CEO George Jones, now owns 22% of the company. In November, its stake stood at 17%.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…