Pershing Square Capital Management Files Paperwork For Two New Funds

Jul 21 2017 | 8:15pm ET

Bill Ackman’s Pershing Square Capital Management is reportedly prepping two new fund vehicles, according to regulatory filings with the U.S. Securities & Exchange Commission on Friday. 

The new funds, which are named Pershing Square VI and Pershing Square VI International, appeared in Form D filings made by Pershing on July 21 and signed by Ackman as managing member. Neither filing detailed how much capital the two funds intend to raise. 

According to a Bloomberg article, representatives for Pershing Square declined to provide additional information on the size of the funds or the strategies they intend to pursue. 

Known for a concentrated portfolio of high-conviction positions, Ackman is coming off a disastrous multi-year foray into embattled Canadian pharmaceuticals company Valeant, which cost Pershing Square some $4 billion when it was finally liquidated in March 2017. He continues to maintain an ongoing short position in nutritional supplement maker Herbalife, which he has described in the past as a pyramid scheme. In early May, Ackman signaled that an as-yet unidentified new position in the fund accounted for approximately 5% of its capital. 

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