Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0779
    -0.0014 (-0.13%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2622
    +0.0000 (+0.00%)
     
  • USD/JPY

    151.3330
    -0.0390 (-0.03%)
     
  • Bitcoin USD

    70,392.21
    +797.20 (+1.15%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,349.88
    +181.81 (+0.45%)
     

Bill Ackman just made his biggest ever investment in another hedge fund manager

Bill Ackman
Bill Ackman

YouTube / Saïd Business School, University of Oxford Bill Ackman.

Billionaire activist investor Bill Ackman told The Wall Street Journal that he had committed the largest amount of money he had ever allocated to another hedge fund.

Ackman, who runs $18 billion Pershing Square Capital and was the best-performing hedge fund manager in 2014, has invested an undisclosed sum in 38-year-old Phil Hilal's new fund Clearfield Capital Management.

Hilal is the younger brother of Pershing Square Capital partner Paul Hilal, a friend of Ackman's. Ackman told Bloomberg News last fall that Phil Hilal was someone to watch.

Last year, at Ackman's Harbor Investment Conference, Phil Hilal knocked it out of the park with his two investment ideas — Energy Transfer Equity (up 40.47%) and Northstar Realty (up 51.98%).

Phil Hilal previously worked at Kingdon Capital Management, Davidson Kempner Capital Management, and Goldman Sachs. He graduated with a bachelor's degree in economics from Yale. He received his MBA from Harvard.

Clearfield Capital Management is expected to debut in the second quarter of this year. Reuters reported earlier that Clearfield would be a long/short equity and event-driven fund.



More From Business Insider

Advertisement