Embattled hedgie Bill Ackman dropped some hints Thursday about his two latest investments — but didn’t go so far as to name names. The Pershing Square founder invested roughly $436 million, or 4 percent of his fund’s $12 billion capital, in late 2016 in one investment, he said during a presentation before the fund’s annual investor dinner. The second, larger investment, totaling roughly 9 percent of his capital, or $981 million, was made in early 2017.
Discretion is a rare move for Ackman, who is known to make media rounds and prepare slide shows detailing his activist plays. However, — down 13. 5 percent in 2016 and 20.
5 percent in 2015 — Ackman may be playing humble. Ackman offered few new clues about the first investment except to say it is a “ business that generates predictable, recurring cash flow” with a “ management team. ” Representatives from Pershing Square did not immediately respond to requests to comment.