Deals
Bill Ackman Makes $2.5 Billion ‘Recovery Bet’ Amid Coronavirus Tumble
- Pershing Square reinvested in Starbucks, others on dip
- Activist investor calls for federally mandated shutdown
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Activist investor Bill Ackman said he has made a “recovery bet” on the economy, investing $2.5 billion in equities, including upping his positions in several of his portfolio companies and reinvesting in others like Starbucks Corp.
The billionaire investor said he has taken off all the hedges that he put in place for his Pershing Square Capital Management, through shorts in the credit market. Those hedges were put in place to offset the effects of the coronavirus, he said.