Pershing Square Capital Management Overview
Pro stress-test →Pershing Square Capital Management is an American hedge fund based in New York City that specializes in activist investments, using influence over company management through the purchase of shares and by exerting pressure on management. The firm was founded on January 1, 2004, by Bill Ackman. Since its founding, Pershing Square has delivered robust long-term returns, boasting an average annualised gain of 16.5% for its hedge fund over two decades.
Strategic Profile
Pro stress-test →In April 2026, Pershing proposed a merger with Universal in a takeover offer reportedly worth $64.3bn that would result in the combined company being listed in the United States by the end of 2026. Pershing Square Holdings, which trades in London and over the counter in the US, accounts for roughly $13bn of the firm's approximately $20bn in assets under management. The fund is known for its unique investment strategy that combines concentrated portfolio management and activist investing.
Competitive Landscape
Pro stress-test →Pershing Square competes with other large activist and opportunistic hedge fund managers including Berkshire Hathaway (which employs different investment philosophy), third-party closed-end fund providers, and other activist-oriented hedge funds. The firm differentiates through concentrated portfolio management, influential activist positions, and founder-led strategy by renowned investor Bill Ackman.
Industry Context
Pershing Square Capital Management operates in Hedge Fund / Activist Investment Management.
Key facts
Founded: 2004 · Headquarters: Los Angeles, US · Employees: N/A · Revenue: N/A · Market cap: $10B+