Pershing Square Capital Management
787 Eleventh AvenueNew York, NY 10019
Website: persq.com
Firm Size
- Assets Under Management (AUM):$19 Billion
- Number of Funds:5
- Employees:40
- Firm Type:Hedge Fund
Description
Pershing Square Capital Management, L.P. is an investment firm based in New York, NY. Founded in 2004 by William A. Ackman, the company primarily engages in activist investing and long-term value creation. With a focus on publicly traded companies, Pershing Square seeks to make concentrated investments in businesses that it believes are undervalued or facing specific challenges, with the goal of implementing changes or improvements to maximize shareholder value. Pershing Square employs a research-intensive approach to identify potential investment opportunities. By conducting in-depth analysis and due diligence, the firm aims to develop a deep understanding of the target company's fundamentals, competitive positioning, industry trends, and potential catalysts for a value increase. This allows Pershing Square to take significant stakes in selected companies and actively engage with their management teams and boards of directors to drive strategic changes. Throughout its existence, Pershing Square has gained attention for some high-profile investments and activist campaigns. Notable examples include its successful investment in McDonald's, where it advocated for the company to spin off its real estate assets, resulting in significant shareholder value creation. The firm has also been involved in restructurings and turnarounds in companies like JC Penney, Herbalife, and Canadian Pacific Railway. Pershing Square is known for its rigorous and focused approach to investments, often taking a highly concentrated position in a handful of companies. This has resulted in both successes and setbacks throughout its history. The firm manages significant capital from various institutional and individual investors, including pension funds and endowments. Overall, Pershing Square Capital Management, L.P. is a prominent player in the investment landscape, particularly known for its activist investing strategy and willingness to take significant positions in companies with potential for value creation.Latest News
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Jun 13, 2024: PITTCO ANNOUNCES ACQUISITION OF MINORITY INTEREST IN PERSHING SQUARE
Pittco Management, LLC ("Pittco") is pleased to announce its equity investment in Pershing Square through a primary equity sale transaction. Pershing Square Capital Management, L.P. ("PSCM") sold a 10% common equity interest in Pershing Square Holdco, L.P. ("Pershing Square")—a newly formed limited partnership owning 100% of PSCM—to a consortium of strategic investors for $1.045 billion . In addition to Pittco, this consortium includes Arch Capital Group Ltd. (NASDAQ: ACGL), BTG Pactual (BPAC11), Consulta Limited, ICONIQ Investment Management, Menora Mivtachim Holdings, and other investors.