11/30/1965Place of birth :
New York - USACountry of residence :
USALinked companies :
JC Penney - Pershing Square Capital - Canadian Pacific Railway Limited
William (Bill) Ackman is the founder and CEO of Pershing Square Capital Management, an American hedge fund that holds shares in Wendy’s International and McDonald’s Corporation. As well it has interest in Target Corp., the second largest discount company in US.
Graduated at Harvard College, he holds also an MBA from Harvard Business School. He began his career working for his father in the real estate, and in 1993 he founded Gotham Partners Management Co. This investment company encounters some troubles including legal problems that will lead to its dissolution in 2003.
In 2004, William Ackman comes back on the financial stage. He has created Pershing Square Capital, and he showed a lot of activism buying massive share in the lowest price for resale in two years maximum. A short-term strategy often criticized by the US Medias. His different attacks against FSA, American division of Dexia, and also against MBIA and Ambac, that it forecast the collapse, earned him a strong enmity in financial world.
In 2007, William Ackman took a share up to 5 millions of dollar (3,5%) in Sears Holdings, third group in distribution sector in US, behind Wal-Mart and Home Depot.
Pershing Square Capital Management manages approximately 2.4 billion of dollar of which 40% was invested in shares of McDonald.
"We think resources are not allocated efficiently today because this business is not independent. There is just no way to argue against transparency.”
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|Latest news about William Ackman|| |
|Ackman Seeks New Penney CEO, Report Says|
J.C. Penney Co. has begun a search for a permanent chief executive and former CEO Allen Questrom has conditionally agreed to return to the retailer as its chairman, according to board member and hedge fund manager William Ackman, CNBC reported Thursday.
|Ackman's Pershing Square takes $2.2 billion stake in Air Products|
|2013 - BOSTON/NEW YORK (Reuters) - Hedge fund manager William Ackman unveiled his biggest bet ever on Wednesday, a $2.2 billion play on Air Products & Chemicals Inc (>> Air Products & Chemicals, Inc.) that the billionaire trader kept secret for two months....
|Ackman may struggle to raise $1 billion in less than 10 days|
|2013 - BOSTON (Reuters) - Hedge fund manager William Ackman's strong returns have made him into one of Wall Street's biggest managers, but even he may struggle to raise $1 billion in the next week for a single stock fund whose target he won't identify, say investors.
|J.C. Penney borrows $850 million to boost inventory|
|2013 - (Reuters) - J.C. Penney Co Inc (>> J.C. Penney Company, Inc.) has borrowed $850 million from its $1.85 billion revolving credit facility to help buy inventory as the department store operator revamps its business strategy after a failed turnaround....