Pershing Square Capital Management Makes Multi-Billion Dollar Bet on Sportswear and Investment
Summary
- Pershing Square Capital Management, a hedge fund led by William Ackman, has built new stakes in Nike and investment.
- The filing shows that Pershing Square Capital Management owned approximately 3,101,213 shares of Nike as of December 31, 2023.
- Nike shares are trading higher in Wednesday's after-hours session after hedge fund Pershing Square Capital Management disclosed a new stake in the company.
William Ackman's New Bet
Billionaire activist investor Bill Ackman said his Pershing Square hedge fund has made a new bet on Nike, the sportswear giant. The fund has acquired a 0.4% stake in the company, worth around $1.1 billion.
Ackman believes that Nike is a well-positioned company to benefit from the growing trend of athleisure wear. He also praised the company's management team and its strong brand.
Hedge Fund Manager Bill Ackman
Hedge fund manager Bill Ackman kicked off fundraising for a new US-listed closed-end fund on Tuesday, according to people familiar with the matter.
The fund, called Pershing Square Holdings, will invest in a concentrated portfolio of companies that Ackman believes are undervalued.
Pershing Square Capital Management's Investment Portfolio
Pershing Square Capital Management, a hedge fund led by William Ackman, is launching a new investment portfolio focused on private equity and credit. The portfolio, called Pershing Square Private Capital, will invest in a variety of companies and assets, including distressed debt, real estate, and private equity.
Ackman believes that the new portfolio will provide investors with a unique opportunity to access a diversified range of alternative investments. He also believes that the portfolio will be able to generate strong returns over the long term.
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