Pershing Square’s CEO Earns $11.6B for His Investors Since 2004
Following to survey released by fund-of-funds LCH Investments NV, William Ackman, an American hedge fund manager, founder and CEO of Pershing Square Capital Management LP, has earned the amount of $11.6 billion for his investors since 2004.
The
48-year-old activist investor is now ranked No. 19 on LCH’s “Greatest
Money Managers” list. The list measures net gains (after fees) of hedge
fund manager’s since their respective fund’s inception. The list
includes fund managers like George Soros, Paul Tudor Jones, Louis Bacon
and Ray Dalio.
Ackman
is now the youngest person on the list. According to LCH, Pershing
Square generated $US4.5 billion in net gains in 2014. A large part of
those returns were a result of his profitable stake in Allergan.
Ackman, who runs Pershing Square Capital Management, had a big year in 2014, netting
40.4% for the year, according to the performance report for the fund.
Overall,
2014 was an incredibly underwhelming year for hedge funds. According to
research firm Preqin, hedge funds on average returned just 3.78%, the
lowest annual return since their 1.85% loss in 2011. To put that in
perspective, the Standard & Poor 500 rose 13% last year.
Ackman
has said before that he wants to have “one of the greatest investment
track records of all time.” He would also like to surpass legendary
investor Warren Buffett’s record.
Source: Business Insider Australia
