Billionaire’s hedge fund bets on Brookfield as major owner and operator of critical infrastructure assets
Bill Ackman, the chief executive officer at Pershing Square Capital Management shown speaking at a conference in 2017, says his believes Brookfield still flies under the radar in the U.S., which manages more than US$1-trillion of assets – in April this year. By the end of June, Pershing had acquired 6.8 million shares, and its stake then ballooned to 32.7 million shares – or nearly 2.2 per cent of the company – as of Sept. 30, according to public filings.
“But it was one of the most satisfying and successful experiences I’ve had working with another management team of another investment firm,” he said. “And so that was really the beginning of, I would say, a relationship and respect for Brookfield.” “We anticipate shares are poised to more than double over the coming years,” Pershing Square partner Charles Korn said Thursday, and the comparison to its peers “would imply very significant valuation upside.”
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