{"id":8116,"date":"2008-07-16T00:00:00","date_gmt":"2008-07-16T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"ackman-adds-cash-to-target-hedge-fund-as-stock-price-slides-38","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2008\/ackman-adds-cash-to-target-hedge-fund-as-stock-price-slides-38.html","title":{"rendered":"Ackman Adds Cash to Target Hedge Fund as Stock Price Slides 38%"},"content":{"rendered":"<p>Bloomberg- William Ackman put more cash into the $2 billion hedge fund he started to invest in Target Corp. as shares of the second-largest U.S. discount retailer declined 38 percent in the past year, according to two people with knowledge of the matter.             <\/p>\n<p>Pershing Square Capital Management LP, Ackman&#8217;s New York- based firm, added at least $100 million to the fund, while he personally committed $5 million. Ackman also solicited money from current and new investors, said the people, who declined to be identified because the fund is private.     <\/p>\n<p>The Target fund&#8217;s loss may exceed the drop in the Minneapolis-based company&#8217;s stock because it uses derivatives, which can amplify gains and losses. Target peaked at a record $70.14 on July 13, 2007, three days before Ackman disclosed owning a stake. Earnings have fallen for three straight quarters as consumers cut back on purchases of clothing and home goods.     <\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&#038;sid=aW191hI36wbY&#038;refer=home\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg- William Ackman put more cash into the $2 billion hedge fund he started to invest in Target Corp. as shares of the second-largest U.S. discount retailer declined 38 percent in the past year, according to two people with knowledge [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1483,218,309,402,1482,83,1484,403,969,353,47,236,620],"class_list":["post-8116","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-bond-insurer","tag-citigroup","tag-farmland","tag-investment-firm","tag-investments","tag-medallion","tag-pershing-square-capital","tag-public-offering","tag-rally","tag-stocks","tag-third-party","tag-trillion","tag-upfront"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8116"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8116\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}