Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Bill Ackman To Buy NYC Condo for $90M

May 19, 2013
Jing Chen

Hedge fund manager Bill Ackman is looking to buy a Manhattan condo for more than $90 million.

The Wall Street Journal reported that the deal is a conjunction between Ackman, the founder and CEO of New York-based Pershing Square Capital Management, and a team of real estate investors. It is considered one of the largest deals for a Manhattan residence.

The article added that Ackman will not move into the penthouse residence after the deal closes, but the group will view the condo as an investment.

Founded in 2004, Pershing Square manages $10 billion in assets.

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