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FILE PHOTO: William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York, May 4, 2015. REUTERS/Brendan McDermid
BOSTON (Reuters) - Activist hedge fund manager William Ackman, whose bets on companies are closely watched, updated investors on how his flagship fund earned a record 70.2% return in 2020 on Thursday in a socially distanced way by sending out a 57-page presentation.
Normally this would be one of the rare occasions where investors could pepper the billionaire investor and his partners in person with questions about markets and individual companies over dinner in New York.
アックマン氏、昨年の好業績を説明 投資チームに女性起用へ
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Ackman details 2020 performance, names female investment team member
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Prime Movers Lab, an investor in scientific breakthrough startups that has attracted capital from hedge fund managers Bill Ackman and Dmitry Balyasny, may soon benefit from a deal with another blank-check company.
The firm was an early backer of commercial space business Momentus, which is going public through a merger with special purpose acquisition company Stable Road Acquisition Corp. More SPAC mergers are coming, according to founder Dakin Sloss. “We have three others that will be announced soon,” he said during a phone interview with
Institutional Investor.
While Sloss declined to name the companies in the firm’s portfolio that will be next to go public, he said he believes that SPACs are more rewarding for shareholders compared to initial public offerings. That’s because “companies are allowed to show forward-looking financial statements” when setting valuation terms, which is similar to private funding markets but can’t be done in the IPO process