efinancialnews – Hedge fund titan William Ackman, whose $12.5bn Pershing Square Capital Management has sold “short” more than 20 million shares of Herbalife for over $1bn, is understood to have notched a $200m-plus paper profit on the trade till date.
The news comes as Ackman is understood to have incurred a nearly $500m paper loss on his roughly $800m investment in JC Penney, and as Soros Fund Management has asked to withdraw several hundred million dollars from Pershing within the past several months. Pershing, which has racked up average annual returns of more than 20% since its 2004 start, was up 5.1% for the year through March 15.
