Bill Ackman Bets $2.1B on Insurer in Bid to Turn Howard Hughes Into Mini-Berkshire

Bill Ackman bets $2.1B on insurer in bid to turn Howard Hughes into mini-Berkshire

Bill Ackman is trying to turn a real estate developer into an insurance-fueled mini–Berkshire Hathaway -- and he just made his biggest move yet.

Pershing Square backs Howard Hughes’ $2.1bn Vantage acquisition

Pershing Square Holdings has agreed to invest up to $1bn in Howard Hughes Holdings to support its acquisition of specialty insurer Vantage Group Holdings, in a transaction valuing the business at approximately $2.1bn, according to a report by Bloomberg. The investment will be made through the purchase of non-voting preferred shares issued by Howard Hughes. The acquisition will reportedly be financed through a combination of cash on hand and Pers…

Pershing Square’s Bold Move — Bill Ackman’s $2.1B Insurance Play Signals New Era for Hedge Funds”

(HedgeCo.Net)  In one of the most attention-grabbing alternative investment moves today, billionaire hedge fund manager Bill Ackman and his Pershing Square team doubled down on an ambitious strategy that could reshape how hedge funds allocate capital beyond traditional stock and credit markets. Ackman’s Pershing Square announced a $2.1 billion acquisition of Vantage Risk, a Bermuda-based insurer specializing in unique risk coverage such as polit…