|AUM as of||January 1, 2009|
OverviewPershing Square Capital Management is a hedge fund based in New York. It was founded in 11/2003 by William Ackman. They hold $4.4 billion in assets under management as of January 1, 2009. Seeded by three investors with $54 million in 2003.
Have raised an entire fund to focus on Target.
Key members include:
Richard McGuire - Partner (left in Jan 2009 to sit as Chairman of the Board at Borders)
Doreen Mary Mochrie - Head of Investor Relations
Joe Sutton - Chief Technology Officerhttp://dealbreaker.com/images/thumbs/Annual_Dinner_Presentation_1.22.2009_FINAL.pdf
Sub Funds and Performance
|Name||AUM (bn)||Strategies||2011||2012||2013||2014||2015||Prime Brokers|
|Pershing Square Intl||4||Long/Short||-2.03||12.39||9.3||37.24||-16.66|
Historical Performance2009 Returns
International Fund down 2.1% in Fubruary, 2009 (-3.6% YTD)http://dealbreaker.com/2009/03/dear-pershing-peeps.php
Target Fund (Pershing Square IV) down 40.1% in January, 2009http://www.bloomberg.com/apps/news?pid=20601087&sid=al01Y68dX7zU
Target Fund down 33.3% in February, 2009 (loss since inception now 93%!!!)http://www.bloomberg.com/apps/news?pid=20601087&sid=au.Byczumeeo&refer=home
2008 Returns were:http://dealbreaker.com/images/thumbs/Annual_Dinner_Presentation_1.22.2009_FINAL.pdf
Pershing Square LP down 13%
Pershing Square International down 11.9%
Pershing Square II down 11.2%
Returned 22% in 2007http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTKvrFt.OCrY
- 03/14/2017 Bill Ackman Is Done Losing Money on Valeant He lost between 2 and 4.2 BILLLION, depending on how you look at it
- 10/17/2016 Is Bill Ackman Toast?
- 08/12/2009 Pershing Square Reduces Target (TGT) Position
- 03/03/2009 Ackman’s Pershing Square Target Fund Fell 33.3% in February
- 02/27/2009 Ackman Talks to Target About Board Seats
- 02/09/2009 Ackman Says Investors Can Exit Target Fund in March He apologizes "profusely" for the poor performance and offered a fee waiver to move money to his other funds.
- 02/06/2009 Ackman’s Target Fund Falls 40.1 Percent in January bringing it to -90% since inception. Was he really 4x levered to a single stock in this environment?
- 04/26/2008 Ackman Is Back at Wendy’s as he reports to now have a 15% stake
- 04/24/2008 Ambac’s $1.66 Billion Loss Is Ackman’s Gain Ambac stock is down 93% over the last year and Pershing Square has been shorting the company
- 01/17/2008 Borders names Richard McGuire of Pershing Square Capital to board they own an 18% stake
- 01/16/2008 Pershing reports 9.69 pct stake in Target
- 01/10/2008 Bill Ackman, Up 22% in 2007, Boosts Bet Against MBIA
- 12/05/2007 Pershing Square hedge fund may seek listing-Ackman
- 09/16/2005 McDonald's Stake Purchased by Pershing