Billionaire Ackman's Pershing Square Files for Two New FundsBy and
Bill Ackman’s Pershing Square Capital Management LP filed documents for two new funds Friday.
The New York-based hedge fund didn’t disclose the total amount it wants to raise and provided few other details in the regulatory filing with the U.S. Securities and Exchange Commission. The funds are called Pershing Square VI LP and Pershing Square VI International LP. The international vehicle is asking for a minimum investment of $100,000 from each participant.
A representative for Pershing Square declined to comment on the nature of the funds or their purpose.
Ackman said in May his latest investment, which has yet to be disclosed, comprised about 5 percent of the hedge fund’s capital at the time.
Pershing Square typically buys large stakes in a handful of big companies and agitates executives and directors to make changes to boost shareholder returns.