Pershing Square Capital Management
Pershing Square Capital Management is an investment firm that manages a portfolio primarily composed of 8 to 12 large capitalization North American companies, focusing on high-quality businesses with predictable cash flows and engaging in strategic changes to enhance shareholder value.
Company History of Pershing Square Capital Management
Pershing Square Capital Management was incorporated with limited liability under the laws of the Bailiwick of Guernsey on February 2, 2012. The company commenced operations on December 31, 2012, as a registered open-ended investment scheme. It subsequently converted into a registered closed-ended investment scheme on October 2, 2014. Pershing Square Capital Management's Public Shares began trading on Euronext Amsterdam N.V. on October 13, 2014, and were admitted to the Official List of the UK Listing Authority, commencing trading on the Premium Segment of the Main Market of the London Stock Exchange on May 2, 2017.
Investment Management by Pershing Square Capital Management, L.P.
Pershing Square Capital Management appoints Pershing Square Capital Management, L.P. as its investment manager. The portfolio managed typically consists of 8 to 12 core holdings, predominantly in liquid, listed large capitalization North American companies. The investment strategy revolves around high-quality businesses that generate predictable, recurring cash flow. Additionally, Pershing Square Capital Management, L.P. may seek to initiate managerial, operational, and governance changes to enhance shareholder value.
Public Trading and Market Listings
The public shares of Pershing Square Capital Management commenced trading on Euronext Amsterdam N.V. on October 13, 2014. These shares were later admitted to the Official List of the UK Listing Authority, beginning trading on the Premium Segment of the Main Market of the London Stock Exchange on May 2, 2017. This dual listing facilitates access to a broader investor base and enhances the company's market visibility.
Hedging Strategies and Risk Management
Pershing Square Capital Management engages in various hedging strategies to manage downside risk and exploit asymmetric profit opportunities. These strategies are designed to mitigate market-related risks and protect the portfolio from adverse market movements. The company focuses on identifying high-quality businesses, leveraging its investment philosophy to potentially drive managerial, operational, and governance improvements, thereby creating shareholder value.