Struggling General Growth Properties Inc. rallied Tuesday after disclosing an investment from hedge fund manager Pershing Square Capital Management LP. General Growth stock nearly doubled in morning trading.

New York-based Pershing Square Capital bought 20.1 million shares of General Growth Properties stock this month, giving it a 7.5 percent stake in the company. It also has options on an additional 33.4 million shares for a total of a nearly 20 percent stake.

Chicago-based General Growth Properties reported a $15.4 million loss for its latest quarter. It has suspended its shareholder dividend and halted plans for new development. The company, facing a looming deadline for maturing

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Tags: aftermath, asset-management, bond-insurer, gaap, general-growth-properties-inc, investments, pershing-square-capital, rise-and-fall, st-louis-galleria, times-of-trenton, tse

Bizjournals.com – Struggling General Growth Properties Inc., owner of the St. Louis Galleria and 200 malls nationwide, rallied Tuesday after disclosing an investment from hedge fund manager Pershing Square Capital Management LP.

General Growth stock nearly doubled in morning trading.

New York-based Pershing Square Capital bought 20.1 million shares of General Growth Properties stock this month, giving it a 7.5 percent stake in the company. It also has options on an additional 33.4 million shares for a total of a nearly 20 percent stake.

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Tags: aftermath, bond-insurer, gaap, investments, MS, pershing-square-capital, rise-and-fall, times-of-trenton

Bloomberg- William Ackman, the activist hedge fund manager, increased his $2 billion bet on Target Corp. as shares of the second-largest U.S. discount retailer declined as much as 38 percent in the past year, according to two people with knowledge of the matter.

Pershing Square Capital Management LP, Ackman’s New York- based firm, added at least $100 million to the hedge fund it started last year to invest in Target. Ackman personally committed $5 million and solicited money from current and new investors, said the people, who declined to be identified because the fund is private.

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Tags: bond-insurer, farmland, investment-firm, investments, lng, medallion, pershing-square-capital, pershing-square-capital-management-lp, rise-and-fall, straight-quarters, third-party, upfront