Monday, 29 December 2014
Last updated 9 hours ago
Jan 16 2008 | 12:21pm ET
Activist hedge fund manager William Ackman has boosted his exposure to a pair of retail targets.
His Pershing Square Asset Management this week revealed that its exposure to discount retailer Target Corp. has increased from to 12.63% from 12.6%, and its exposure to bookseller Borders Group rose from 21.8% to 24.4%.
Both figures represent ownership stakes and stock-settled call options and cash-settled total return swaps, and not just voting power. In fact, Ackman’s voting stake in Target declined slightly, from about 10% to 9.7%, as Pershing Square shed roughly 2.5 million shares.
Pershing Square owns an 18% voting stake in Borders.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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