(Reuters) For months, activist investor William Ackman promised to rebuild his record. Now he has some numbers to prove it.Since Jan. 1, Pershing Square Holdings has gained 31.9 percent, making it the best start to a year in the firm’s 15-year history, Ackman wrote in a letter released on Monday. More importantly, Ackman laid out how his hedge fund is essentially transforming itself into a holding company that owns stakes in public companies and offers a helping hand to struggling management teams to resurrect once-strong returns.
Ackman’s Fund Zooms Ahead as he Casts Himself as Corporate Helpmate
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