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.”
Copyright © 4-traders.com / Photo © Maxppp
|Latest news about William Ackman|| |
|Ackman may be eyeing exit as JC Penney bet in tatters|
|2013 - BOSTON/NEW YORK (Reuters) - William Ackman's multiyear bet that he could overhaul ailing retailer JC Penney (>> J.C. Penney Company, Inc.) looks like it may end up being one of his $12 billion hedge fund's worst investment blunders....
|Two Ackman investors want more details on JC Penney|
|2013 - BOSTON/NEW YORK (Reuters) - Two institutional investors with William Ackman's $12 billion hedge fund plan to reach out to the manager to get more information about the firm's big bet on ailing retailer JC Penney (>> J.C. Penney Company, Inc.), whose stock has dropped 21 percent this year....
|Ackman's fund flat in February - sources|
|2013 - (Reuters) - William Ackman's Pershing Square Capital Management ended February virtually flat, even after a tumultuous end to the month when two high-profile bets moved quickly in the wrong direction for his $12 billion portfolio.