Ackman’s Pershing Square Said to Gain 25% in First Half

Pershing Square Capital Management LP, the hedge-fund firm run by Bill Ackman, posted a 25 percent gain in its main fund for the first six months of the year, according to a person with knowledge of the returns.

The fund climbed 2.4 percent in June, said the person, who asked not to be identified because the information is private. Pershing Square is based in New York and manages $14.7 billion. The returns were reported earlier today by the Wall Street Journal.

Ackman’s fund benefited as Allergan Inc., whose largest shareholder is Pershing Square, surged more than 50 percent in the first half as the drugmaker resists a takeover bid. Fran McGill, a spokesman at Pershing Square at Rubenstein Associates, declined to comment on the returns.

Before it's here, it's on the Bloomberg Terminal.