Bill Ackman in talks to launch fund to bet on investor complacency, FT reports

 

• Bill Ackman is in talks to launch a fund that would bet on “complacency” in financial markets, the Financial Times reported, citing unidentified people familiar with the matter.
• Ackman’s Pershing Square (PSUS) would use the fund to make “asymmetric” trades aimed at profiting by wagering against the prevailing narrative in markets, the report said. The fund would keep much of its assets in short-term US debt before deploying the capital on large credit and macro bets.
• In private discussions with potential investors in Pershing Square, Ackman has highlighted the fund as a potential way to boost the firm’s fee earnings, the report said.
• Rather than making new doomsday trades using Pershing Square’s main fund, an Amsterdam-listed public vehicle with about $20B in assets, Ackman was in discussions to craft an entirely new strategy, said three people briefed on the matter. The firm’s flagship fund had lost more than 16% of its value as of the end of March, the report added.

https://www.msn.com/en-us/money/companies/bill-ackman-in-talks-to-launch-fund-to-bet-on-investor-complacency-ft-reports/ar-AA20tlvT