Pershing Square Holdings Ltd. said it will invest as much as $1 billion in Howard Hughes Holdings Inc. to back its purchase of specialty insurer Vantage Group Holdings Ltd.
Bill Ackman’s hedge fund agreed to buy non-voting preferred shares issued by Howard Hughes, according to a statementThursday. Howard Hughes said in a separate statement that it was buying Vantage for about $2.1 billion.
Pershing CEO Bill Ackman
Show: Peer-to-Peer Conversations” in New York, US, on Tuesday, Nov. 28, 2023. Photographer: Jeenah Moon/Bloomberg
Pershing Square is Howard Hughes’ largest shareholder, with Ackman seeking to turn it from a real estate company with master-planned communities and other properties into a company with controlling stakes in other public ...
