Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Bill Ackman’s hedge fund reports double-digit gains in April

Tuesday, May 03, 2016

Komfie Manalo, Opalesque Asia:

After starting the year on a bad note, billionaire hedge fund manager William Ackman finally has some good news for investors. His hedge fund firm, Pershing Square Holdings reported a 10.2% gain in April as shares of embattled pharmaceutical company Valeant rose, Reuters reported.

However, the strong performance in April was still insufficient to keep the hedge fund in the black as Pershing Square is still down 18% year-to-date after plunging 25.6% in March, data showed.

In terms of assets, Pershing Square recorded a $800m increase and currently stands at $12.4bn up from $11.6bn in March. But the figure is still way below the $20bn assets that the hedge fund used to manage at the end of 2015.

Ackman’s hedge fund fell as Valeant stumbles

Ackman has become the unofficial leader of a thundering herd that has lost billions of dollars betting on Valeant Pharmaceuticals over the past year. The 49-year-old founder of Pershing Square Capital found himself going to bat again for Valeant when he testified before Congress about Valeant’s controversial drug pricing policies, which have included inflating the prices of vital heart medicines right before learning that generic equivalents were coming to the market.

......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1