Bill Ackman’s Pershing Square to Offer New Fee Structure
Bill Ackman is betting good times are about to return to his Pershing Square hedge fund. The embattled activist investor, whose fund was down 18.8 percent through Sept. 30 after falling 20.5 percent in 2015, will give new and existing clients a chance to opt into a new fee structure that will charge lower performance fees until Pershing reaches a 15 percent profit. The new fee option kicks in on Jan. 1...
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