June 22, 2018 7:45 AM ET

Capital Markets

Company Overview of Pershing Square Capital Management, L.P.

Company Overview

Pershing Square Capital Management, L.P. is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles It invests in the public equity markets across the globe. The firm employs long/short strategy to make its investments in value stocks. It employs fundamental analysis to create its portfolio. The firm conducts in-house research to make its investments. Pershing Square Capital Management, L.P. was founded in 2004 and is based in New York City.

888 Seventh Avenue

42nd Floor

New York, NY 10019

United States

Founded in 2004

Phone:

212-813-3700

Fax:

212-286-1133

Key Executives for Pershing Square Capital Management, L.P.

Chief Executive Officer and Portfolio Manager
Age: 51
President
Age: 44
Chief Financial Officer
Chief Operating Officer
Head of Investor Relations
Compensation as of Fiscal Year 2017.

Pershing Square Capital Management, L.P. Key Developments

United Technologies To Consider Strategic Alternatives

United Technologies Corporation (NYSE:UTX) will seek strategic alternatives. Bill Ackman, Manager of Pershing Square Capital Management, L.P., said, “United Technologies is one of the last remaining conglomerates. Other than Berkshire Hathaway, conglomerates have not had a great track record. ”The remarks raise the pressure on United Technologies, which has a market value of almost $100 billion, ahead of a portfolio review slated for later this year. Greg Hayes, Chief Executive Officer of United Technologies, has pledged to consider all options, including a possible breakup, to boost shareholder value. “While the industrial giant has strong business units, they each trade at a discount to peers. Splitting the aerospace operations, Otis elevator division and climate-controls business into separate entities would allow them to thrive,” Bill Ackman said. “The management here has put together three outstanding businesses and built them to significant scale. We think each business would trade at a very attractive valuation and, more importantly, operate more effectively as independent companies,” Bill Ackman said. "Bloomberg reported that a United Technologies’ representative declined to comment."

Pershing Square Holdings, Ltd., Pershing Square Capital Management, L.P., Q1 2018 Earnings Call, May 15, 2018

Pershing Square Holdings, Ltd., Pershing Square Capital Management, L.P., Q1 2018 Earnings Call, May 15, 2018

Pershing Square Capital Management, L.P. and Valeant Pharmaceuticals International, Inc. Announce Agreement in Principle to Settle Lawsuits Related to Allergan

Pershing Square Holdings Ltd. announced that it has reached an agreement in principle, subject to court approval, to settle lawsuits concerning the attempted acquisition of Allergan plc. by Pershing Square Capital Management, L.P. (Pershing Square) and Valeant Pharmaceuticals International, Inc. (Valeant) in 2014, which were filed in the Central District of California (Anthony Basile et al v. Valeant Pharmaceuticals International, Inc. et al. and Timber Hill LLC v. Pershing Square Capital Management, L.P. et al). Pershing Square and Valeant have agreed to split the $290 million total settlement such that Pershing Square will pay $193.75 million and Valeant will pay $96.25 million. While Valeant had originally agreed to pay 60% of the cost of the settlement, Valeant and Pershing Square had different views on the desirability and timing of settling the case, which previously prevented settlement. On December 19, 2017, Pershing Square acquired control of the settlement of the litigation in exchange for agreeing to pay a greater percentage of the settlement amount.

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